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Toyota (TM) has cut its production forecasts for 2009 for the third time. That is hardly good news for Ford (F) and GM (GM) which rely on a balance of foreign and domestic sales as they work toward operating break-even.
According to MarketWatch, the latest cut "would be Toyota’s third downward revision to its sales outlook for this fiscal year, and the new forecast would be down more than 100,000 units from the prior projection of 7.54 million units announced in late December. Toyota had originally forecast 9.06 million units in May."
Douglas A. McIntyre
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