Toyota lowers sales target - WDRB 41 Louisville News

Toyota lowers sales target

Oil prices dropped sharply Thursday after rising in recent days on speculation about the possible impact from Tropical Storm Gustav.

And the economy posted stronger than expected second quarter growth that was the fastest pace in nearly a year.

Wall Street liked both scenarios.


The economy's problems in the past year are being reflected in the number of bankruptcies filed since June of last year.

U.S. court records show there were nearly one million bankruptcy cases from June of 2007 to this past June.  The number is up nearly 29% from the same 12 months the previous year.

The bankruptcies involve businesses and individuals, and many involved non-protected assets like family homes.


Toyota is lowering its sales target for next year by 700,000 vehicles.

Analysts say the lower target shows even one of the world's most durable automakers is being hurt by rising material costs, a slowing U.S. market, and soaring gas prices.

Toyota had previously set a 2009 global sales goal of 10.4 million vehicle.  That's now 9.7 million.

Toyota has been on such a potent growth track in recent years it is getting closer to ending General Motor's 77-year run as the world's top automaker by sales.


One of America's most popular businesses, Harley Davidson, is having a birthday party this week.  The legendary motorcycle company turns 105 years old.

Harley Davidson is based in Milwaukee, and the company expects more than 100,000 people to attend birthday events this week.

The celebration includes factory tours, picnics, concerts, and thousands of bikes. 

Harley Davidson says its bike owners are like fans and the company expects fans from all over the world to be in Milwaukee this weekend.

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