Toyota revises its global sales decline for 2009

The Japanese car giant Toyota announced Thursday that it had decided to revise downwards its forecasts a global sales for 2009 was 9.7 million vehicles against 10.4 million in its initial forecasts.

Toyota had already seen a decline in sales in 2008 to 9.5 million vehicles against 9.85 million initially.

Speaking to journalists, the CEO of the Japanese firm, Katsuaki Watanabe, stressed that the automotive industry going through a "difficult period" marked by an outbreak of raw material costs and a slowdown in the market key U.S. .

Mr. Watanabe also cites rising fuel prices discouraged consumers from buying cars.