Toyota to cut 2009 sales plan by 10 pct - media

TOKYO Dec 10 (Reuters) - Toyota Motor Corp (7203.T), the world's biggest automaker, will cut its global sales plan for 2009 to below 8.7 million vehicles, down at least 10 percent from its previous forecast, a Japanese newswire said on Wednesday.

Toyota, which shocked investors last month with a massive reduction to profit forecasts for this business year, has said it would announce updated sales projections at a year-end news conference in December. [ID:nT27754]

Without citing sources, Jiji Press said that Toyota would cut its forecast to below 8.7 million units on Dec. 22.

Japanese newspaper Chunichi Shimbun had reported last month that it would be lowered to below 9 million units. [ID:nT267762]

In August, Toyota had cut its group-wide sales forecast by almost 7 percent to 9.7 million vehicles from 10.4 million as high fuel prices hammered demand for large cars and pickup trucks in North America. [ID:nT6192]

Since then, tighter credit and deepening economic woes have hit demand in Europe beyond expectations, and slammed the brakes on rapid growth in China, India and Russia, among other markets.

The Toyota group, which includes mini-vehicle maker Daihatsu Motor Co (7262.T) and truck maker Hino Motors Ltd (7205.T), sold 9.3 million vehicles in 2007. Sales this year are widely expected to fall short of that as Toyota idles factories and reduces production in many markets. (Reporting by Nathan Layne; Editing by Jon Loades-Carter)