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Fuji Heavy cuts sales target,scraps new plant plan

Fuji Heavy Industries,the maker of Subaru-brand cars,said it lowered its 08-09 sales target to 555,000 units from 616,000.

Written by Reuters | Tokyo |
January 16, 2009 9:51:22 am

Japan’s Fuji Heavy Industries,the maker of Subaru-brand cars,said on Friday it lowered its 2008/09 sales target to 555,000 units from 616,000 and would scraps plans to build a new plant for cars to be jointly developed with Toyota Motor Corp.

Fuji Heavy said earlier on Friday it now expects an operating loss of 9.0 billion yen ($100.2 million) in the year to March because of poor demand,down from a previous forecast of a 23 billion yen profit.

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