Toyota Motor Corp. President Katsuaki Watanabe at a news conference in Nagoya on Dec. 20.

The business newspaper Nihon Keizai Shimbun said Japan's largest automaker, which holds about 40 percent of the market, had initially projected domestic sales of 1.8 million cars in 2005. It is likely to miss that target as demand for major models, including its mainstay Corolla compact, has been hurt by competition from lower-priced cars such as minivans and used cars. The company did not introduce any new models in Japan between April and September, which also contributed to the weaker sales.

It said the company plans to remodel the Corolla and some other popular models in 2006 and had set a sales target of 1.78 million cars.

The Japan Times Weekly: Dec. 24, 2005
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