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Price-cutting for Toyota cars in Azerbaijan

Business Materials 2 February 2009 16:52 (UTC +04:00)

Azerbaijan, Baku, Feb. 2/ Trend N. Ismaylova/

Toyota cars fell in price in Azerbaijan, Toyota official representation in Azerbaijan said on Feb. 2.

Prices for most of Toyota cars reduced by five percent.

The reduction wasn't based on initiative of the auto show but due to price-cutting for these cars on the market, the auto show said.

According to Nikkei business weekly, sale of Toyota cars in the world, including cars produced by Daihatsu Motor Co и Hino Motors Ltd subsidiary companies, may reduce to seven million in 2009 fiscal year to be started in April.

According to Chunichi Japanese magazine, production volumes of Toyota Motor Corp. branches leading world auto concern all over the world may reduce by 20 percent amid aggravating recession and poor demand for cars produced by the company.

Toyota Motor is expected to produce 6.5 million cars without "subsidiaries" in 2009 which by 20 percent less compared to 2008. This index will be the lowest one since 2003.

According to magazine, Toyota has reduced it s production because of significant number of unsold cars.

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