Tyremakers Affected by Toyota’s Revised 2009 Estimate

Toyota has downward revised its projected production figures for 2009 by seven per cent; instead of the previously anticipated 10.4 million vehicles, the company now estimates that around 9.7 million Toyotas will be manufactured next year. This news comes as August sales figures for the US show 9.4 per cent fewer Toyota vehicle purchases during the month, a total of 211,533 units. Only sales of what count as smaller cars in this market, such as the Yaris, which sold 20.5 per cent more units, and the Camry and Camry hybrid were higher (3.3 per cent higher).

Lower projected sales impact also upon investment decisions made in relation to the carmaker’s global partners. “Toyota’s revised prognosis will certainly have an influence upon our business,” said Bridgestone’s Shoshi Arakawa. While the company chairman of the Board, CEO and president, quoted in Germany’s Handelsblatt financial daily, added that Bridgestone would not feel the pinch as significantly as Michelin, as it can supply tyres at a lower price, it too was under strain from the trend towards smaller cars and their smaller, and thus less profitable, tyres.