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Shock: Toyota drops 2009 sales forecast as well

rybo submitted on 8/21/2008 Official Bell & Ross Timestamp: 9:24:23 AM

35 user comments | Category: Misc News | Source: | SOURCE: www.motorauthority.com

Having already reduced its global sales target for this year, Toyota is reportedly trimming figures once again and pushing back its goal to become the first carmaker in the world to break the 10 million annual vehicle sales barrier.

Late last month Toyota announced that it was lowering its sales outlook for 2008 to 9.5 million vehicles, down from the 9.85 million units predicted at the start of the year

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Shock: Toyota drops 2009 sales forecast as well

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— rybo (View Profile)

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Huu76,

If you read this, just wanted to let you know the Jap companies are starting to lower the finance and lease rates.

Since that is the only weapon you have to defend them thought I would let you know that INFINITI just sent me a letter through the mail stating that they are offering 1.9% for up to 60 months.

I guess they are having to give there cars away too..

So much for your BMW finance speech that you preach over and over again..

— QuantumMatrix (View Profile)

Posted on 8/21/2008 12:18:26 PM | reply to this comment | Votes: 11

Huu76,

I forgot to mention that on some models at Infiniti it is 0.0% for up to 72 months and on other models it is 0.9% for up to 60 months.

Wow, Infiniti is offering ZERO percent financing for 72 months.

I guess they can't give their cars away either.

— QuantumMatrix (View Profile)

Posted on 8/21/2008 12:23:17 PM | | Votes: 9

Yea those infiniti incentive offered (mainly on the suv's) are nice. I was considering it! An FX might not b a bad choice at those rates. No interest financing is the best!
— 0to60 (View Profile)

Posted on 8/21/2008 4:47:30 PM | | Votes: 2

you guys realize that to get these rates you need near perfect credit.

2 years ago, you could have gotten a lease with ok credit, now even with a high fico score most banks are looking deep into credit histories and issuing tier 2 - 4 credit approvals.

— charlik05 (View Profile)

Posted on 8/21/2008 12:43:24 PM | reply to this comment | Votes: 6

Um not true. If you are a returning customer, they look at you like you have tier credit regardless. BMW, Infiniti, Nissan and a few others do this. I dont think Acura or Honda does this but they should adopt it right away.
— 0to60 (View Profile)

Posted on 8/21/2008 4:46:31 PM | | Votes: 4

to re clarify,
all banks approve returning customers even if their credit worthiness has fallen, as long as the old vehicle is returned to the bank at the time you pick up your new vehicle. This has been around all the time and most banks follow this.

I was referring to new customers. New customers are having troubles getting top tier rates even with high credit scores.

2 years ago when the fx and g infiniti had crazy lease specials as long as you had 620 fico and some sort of job you were approved for top tier. I sold about 60 of these types of deals with no problems or headaches.

today i have a dentist who makes $125,000 a year with a 700 fico and can not get top tier for a rx350.

difference in payment is about $55 a month.

— charlik05 (View Profile)

Posted on 8/21/2008 6:13:30 PM | | Votes: 1

Toyota is coming back down to earth. They lost all credibility in my eyes when despite every bleak economic factor, they forcasted record profits and sales for 2008. Now the real figures are nowhere near those promised.
— w209w114 (View Profile)

Posted on 8/21/2008 12:55:25 PM | reply to this comment | Votes: 7

I believe they are still very credible.

But time has proven once you get to be the size of Ford and GM then you have very similar issues. Now if Toyota can fix these issues and become as lean and mean as before. Then they will make history. The one thing they are doing, is moving very quickly, far quicker than unionized Ford and GM could ever dream of. Again the weight of the union penalizes the big three.

I have a feeling that this months sales will not be good news, nor will the remainder of the year.
— Agent009 (View Profile)

Posted on 8/21/2008 1:02:45 PM | | Votes: 4

w209w114 so you're saying they had credibility in your eyes until now right? Please.
— 800over (View Profile)

Posted on 8/21/2008 4:06:44 PM | | Votes: 2

Quantum,
I talk Toyota/Lexus.

Honda historically uses lower rates than the leader.
Nissan doesn't mean anything to me, so they can give theirs cars away all they want.
However, you forgot to mention that only the SUVs are getting 0%, the G is 1.9% which is still higher than BigManWheels' entire lineup.
Don't you just hate it when someone calls your bluff and wins?

Anyway, we can play till the cows come home.

VW $0 down, $0 deposit, no 1st month payment and 1.5% APR.
http://www.vw.ca/vwcms_publish/vwcms/master_public/virtualmaster/en_ca/shop___price/specials___offers/Quebec.html

I await your futile reply and try not to use 'Jap', it basically signals whatever follows is BS and you've got nothing.

Anyway, at last check, Toyota still making a killing, BMW still offering the farm to try and unload their garbage.

charlike,
If you can't qualify for a 'normal' car loan, you've got other issues beyond buying a car. A kid straight out of college with loads of debt can easily qualify.
— huu76 (View Profile)

Posted on 8/21/2008 12:55:40 PM | reply to this comment | Votes: -10

Just for you Huu:

DETROIT, Aug 1 (Reuters) - Toyota Motor Corp (7203.T: Quote, Profile, Research)(TM.N: Quote, Profile, Research) said on Friday that U.S. auto sales fell an adjusted 18.7 percent in July, driven by steep declines in large vehicles.

Toyota said sales dropped to 197,424 vehicles in July from 224,058 vehicles a year earlier. July had two extra selling days in 2008 compared with the prior year.

Toyota brand sales fell 17.9 percent, while the luxury Lexus brand fell 24.6 percent. (Reporting by David Bailey and Poornima Gupta; editing by Jeffrey Benkoe)

— BMWnumber1 (View Profile)

Posted on 8/21/2008 2:15:14 PM | | Votes: 9

and by being able to command high finance rates, Toyota will still make more money than all the German car companies combined.

That, bubba, is a fact that's been posted here many times.
— huu76 (View Profile)

Posted on 8/21/2008 12:57:04 PM | reply to this comment | Votes: -8

huu76, wrong again. Wrong wrong wrong, as always. Lexus is not making back any money on higher rates because aside from the fact that they'll lose buyers to other brands who ARE running rate specials, the people who do still buy a Lexus won't finance with them if they're running obscenely high rates. They'll go to an outside lender and get a better rate. Plus, you're an idiot, Lexus is running special rates on their models here in the U.S. as part of their big sales event right now (you're in Canada, I don't know nor do I care what Lexus is doing there -- the U.S. is Lexus's only real market globally, this is all that matters for them).

So here's what Lexus is doing: they're losing money on every vehicle not built in the U.S. (with none of the global sales the German's have to make up for it), and not making anything on the financing since they're not carrying any of the loans (or they're losing money the loans they are carrying due to special subsidized rates like everyone else).

By the way, you can thank Lexus for almost singlehandedly dragging Toyota's quarterly profits down 99% last quarter from what they were the year before. Toyota's figures alone would have been bad, but nowhere near that bad, had they not rolled Lexus's figures into Toyota's. But they're better off lumping the numbers together and showing a (99% lower) profit than admitting to the world that their premier division wasn't just "less profitable" like the Germans but actually LOST hundreds of millions of dollars.

You wanted a response, you got one. Now stop making everyone else on here dumber who reads your BS and doesn't know from experience that you're a troll who has no idea what the hell he's talking about.
— JRobUSC (View Profile)

Posted on 8/21/2008 3:07:10 PM | | Votes: 7

Quantum,
Oh, and Nissan Canada's special offers on Infiniti consist of advertising a G35 is cheaper than a 335i.
http://www.infiniti.ca/en/general/special_offers/special_offer_dbd.html

Nissan Canada's special rates vary from 1.9 to 4.9% depending on the popularity of the model. BMW is still using 0.9%.

It must suck being you right now. Don't you ever get tired of being you?
— huu76 (View Profile)

Posted on 8/21/2008 1:02:04 PM | reply to this comment | Votes: -12

Such an angry little loser you are Huey..

I suppose you still believe the Lexus IS350 is not a direct competitor to the BMW 335i too.

Go check your facts on that one too.. You seem to be good at pulling rabbits out of your A_S!

I'm done with you.

Just had to prove you wrong as it has always been easy, since you only know the words finance and lease and you actually know little if nothing about actual cars.

Have fun !!
— QuantumMatrix (View Profile)

Posted on 8/21/2008 1:46:40 PM | | Votes: 11

Poor little HUEY!

Called your bluff and you lost..

EndGame.... LMAO
— QuantumMatrix (View Profile)

Posted on 8/21/2008 1:23:13 PM | reply to this comment | Votes: 7

For the record I don't dislike Toyota/Lexus, Nissan/Infiniti, or Honda/Acura...

They are good companies and provide a product that consumers must like due to their continued sucess.

I just get tired of seeing poster like yourself trash BMW everytime they are on this site.

Just because BMW's fan base is 100 times the Asian brands (any one, just take a pick) is no reason to degrade them everytime you get on this site.

We are all different and have different tastes and desires.

No more comments on this issue, because BMW will always be my choice as the best and forward thinking automotive company in the world.

So you can comment trash and keep your superiority complex.

If it makes you feel superior then I am happy for you, but everyone on here knows your rants are about as tactful and tasteful as Staar, teknik, auto001 and HondaJapan.

So long Huu.. No hard feelings ..

I'm off to enjoy sheer driving pleasure in my perfect, balanced, beautiful and elegant BMW 335i Coupe............
— QuantumMatrix (View Profile)

Posted on 8/21/2008 1:36:47 PM | reply to this comment | Votes: 7

One parting gift for you before I leave...

click on this for the true facts:

http://www.egmcartech.com/2007/05/28/bmw-335i-slaughters-lexus-is-350-in-comparison-test/
— QuantumMatrix (View Profile)

Posted on 8/21/2008 2:49:31 PM | reply to this comment | Votes: 6

say it in front of you?

That's a laugh goober..
— QuantumMatrix (View Profile)

Posted on 8/21/2008 3:07:09 PM | reply to this comment | Votes: 4

Looking at incentives, The IS-F has 2.9% for 48 months and 3.9% for 60 Months. Not good news for a brand new limited production halo car. Maybe this is why the GS-F is been discontinued and the LF-A is delayed.
— theoptimisticpessimist (View Profile)

Posted on 8/21/2008 3:11:08 PM | reply to this comment | Votes: 7

don't let huu see that, his head will explode from the reality that every single thing he's said on here for the past month is totally made up BS. Every. Single. Thing.

Let's see if just once he'll admit he's been (at best) wrong, or (at worst) a complete liar. My money is on "no", but it'd be worth losing that bet for the satisfaction of seeing him admit his douchebaggery.
— JRobUSC (View Profile)

Posted on 8/21/2008 4:15:27 PM | | Votes: 5

Good to see Toyota jumps on this matter quick and not put themselves in the deep end like the Big 3...I look at this as "not to be concerned"...simply potential loss of future profits, at the end of the day they con't to make money around the world...and get to where they want to be at the end of the day...it's only a matter of time. At the end of the day we can only blame our American economy, it's too bad how the economy revolves around our the North American market, when we go down and so does everybody else....
— BigShow50 (View Profile)

Posted on 8/21/2008 8:49:53 PM | reply to this comment | Votes: -1

Hey QuantumMatrix/Star best of wishes in your new school year!
— sector (View Profile)

Posted on 8/21/2008 9:33:25 PM | reply to this comment | Votes: -2

Hey auto001/Staar/teknik/HondaJapan:

If you hurry and get to a Lexus dealership before September 2nd for the Lexus Back to School Sales Event, you might be able to get a new ES350 for about $10,000...

Lexus showrooms and sales lots are packed with them. I know the LS/Avalon will be a little out of your price range, after all you were held back 5 or 6 times and still in 6th grade.
— QuantumMatrix (View Profile)

Posted on 8/22/2008 10:27:58 AM | | Votes: 3

"Lexus showrooms and sales lots are packed with them"

I guess you've been there already. Was this on your

"to do list" before the new school year?
— sector (View Profile)

Posted on 8/22/2008 11:31:59 AM | | Votes: -2

bmwnumbernone,
Holy crap, Toyota car sales are down this year? Why don't you try telling us something we don't already know.

Quantum,
What's your next user name going to be? I'll mop the floor with that one too.
I see a lot of used BMWs that they can't move, and the lot is only going to get a lot more crowded as the backloaded leases keep coming back way overpriced.

JrRob,
You forgot to mention that since N.A. accounted for Toyotas drop last quarter, it basically means they're cleaning up up everywhere else.
I don't expect any BMW fan to understand basic economic principles, you probably think BMW moving the same volume while making a lot less money is a good thing.
Toyota builds cars where they sell them so who cares if a car is built in Japan or not, those sell in Asia. Most N.A. don't pay a car outright (hell, they can't even afford to put a downpayment on a BMW), so Toyota will still be pulling in the financing cash. If anything, BMW will be losing money with each lease as they have to borrow at higher than 0.9%.
— huu76 (View Profile)

Posted on 8/22/2008 1:05:35 PM | reply to this comment | Votes: -2

Correction, 1.9% leases. 0.9% financing. Makes no difference, BMW is fighting a sales war of attrition that they can't afford.
— huu76 (View Profile)

Posted on 8/22/2008 1:07:13 PM | reply to this comment | Votes: -2

Huu,

The only thing you'll ever mop the floor with, is well, A MOP..

Because I'm sure you are probably the janitor at the middle school HondaJapan and auto001 attends.
— QuantumMatrix (View Profile)

Posted on 8/22/2008 1:17:59 PM | reply to this comment | Votes: 1

ahh, huu, you're quickly becoming my favorite troll. Let's make you look even more stupid point by point, shall we?

"You forgot to mention that since N.A. accounted for Toyotas drop last quarter, it basically means they're cleaning up up everywhere else."

The 99% profit drop was ONLY for North America, and a very large part of it was Lexus losing hundreds of millions of dollars in the U.S., the only market Lexus has any presence in whatsoever. Toyota globally did ok (they were down about the same as everyone else), but Lexus doesn't have the global sales to make up for the money they lost in the U.S. Know who does? The Germans.

"I don't expect any BMW fan to understand basic economic principles, you probably think BMW moving the same volume while making a lot less money is a good thing."

Actually that's pretty much what every manufacturer is trying to do right now. Sell as much as you can, make whatever you can, ride out the storm. The only one failing miserably at this is Lexus, who is not only selling less vehicles but also didn't just "make less money" -- they LOST money, and a lot of it. Here's what else I know: I know that this is an opportunity for BMW, Mercedes, et al to jump in and beat Lexus in the only market in which Lexus outsells them. When the market is better and BMW, Mercedes, etc. are now entrenched ahead of Lexus, that's pretty huge. But if you want to pretend that gaining marketshare in the worlds largest luxury car market is a bad thing, feel free. In fact, do us a favor and get yourself elected to Lexus's board of directors.

"Toyota builds cars where they sell them so who cares if a car is built in Japan or not, those sell in Asia."

What market does Lexus sell almost all of its vehicles in? The U.S. Are most Lexus's built in the U.S.? No. Here's Lexus's business plan for 2008 and 2009:

Built in yen + sold in dollars + poor U.S. economy/exchange rate + no global sales to offset that = losing money.

"so Toyota will still be pulling in the financing cash. If anything, BMW will be losing money with each lease as they have to borrow at higher than 0.9%."

You are right about BMW losing money on the financing. BUT, it also means they're increasing sales. Meanwhile you're (as always) wrong about Toyota making money back on the financing. If they don't subsidize the rates buyers will go to outside lenders (and they'll make nothing) or just buy a different brand (and cost them marketshare while building a competitors). Perhaps that's why Lexus is ALSO RUNNING SPECIAL RATES ON EVERYTHING THEY SELL. So get off BMW and Mercedes' nuts, Lexus is doing the same thing. And they have to in order to stay competitive. The difference being that it's not working for them, and without those global sales to make up for the U.S. profit shortfall, Lexus can't really keep up with the Germans.

So there's your economics lesson for today. Might I suggest a warm glass of milk with your crow? It'll get th
— JRobUSC (View Profile)

Posted on 8/22/2008 2:06:24 PM | reply to this comment | Votes: 3

LMAO!! Huu, MT is your cheerleader!
— QuantumMatrix (View Profile)

Posted on 8/22/2008 4:11:43 PM | reply to this comment | Votes: 3

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Shock: Toyota drops 2009 sales forecast as well

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