More Japan carmakers slash forecasts blaming demand slump

Newswire

By Chang-Ran Kim, Asia autos correspondent TOKYO, Oct 30 (Reuters) - Mazda Motor Corp and Mitsubishi Motors Corp lowered their profit forecasts on Thursday to bring them in line with the brutal environment of a stronger yen, sinking demand and tightening credit plaguing the industry. A deepening global financial crisis is promising to exacerbate what had already started off as a difficult year, and executives said its effect could be long-lasting. Despite having raised its earnings ...

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