UPDATE 2-Toyota cuts '08 outlook,sees 1st output fall in 7 yrs

Newswire

(For table click on [ID:nT270122]) (Adds analyst comment, closing share price, background) By Chang-Ran Kim, Asia Autos Correspondent TOKYO, July 28 (Reuters) - Toyota Motor Corp on Monday cut its 2008 groupwide global sales forecast by 350,000 units to 9.5 million vehicles due to a pronounced downturn in the U.S. market, in a rare setback for the world's biggest automaker. The weaker sales outlook also means global production at the parent company would fall 1 percent from 2007 to ...

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