I have always felt that one of the reasons why Toyota ignored the Indian market for so long was because they were too busy fullfilling booming demand for their cars in America.
Now, the American economy woes have caught up with Toyota.
2008 Q4 profit is down 28%.
2009 Sales expected to fall. A first for the company in 27 years.
2009 Profit expected to fall 27%.
Quote:
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Like other major automakers, Toyota has been gradually switching its focus to China and other emerging markets.
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Doesn't look like it from where we are.
Source:
Yahoo News.