A leading figure at Japanese automaker Toyota Motor Corporation has explained that he is undecided about whether US auto sales have now reached their lowest ebb.

The sharp decline has been brought about by rising gasoline prices which have taken many automakers by surprise, with Toyota reporting an eight per cent slump in US sales during August.

Speaking at an event hosted for the benefit of financial analysts in New York last week, Vice-Chairman Kazuo Okamoto said: "It's hard to say whether the US market has hit bottom."

Research suggests that the overall market fell by 11 per cent over the course of the last month, a downturn which recently forced Toyota to cut its global sales forecast for 2009.

The company has been struggling to sell its heavier SUVs and trucks in particular, although Jim Lentz, Sales Chief for North America, added: "Our ongoing assumption is it [sales volume] will be flat from this year."



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UPDATE 1-Toyota says uncertain if US market has hit bottom (05/09/08)
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