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Toyota cuts spending, increases hybrid development

Even mighty Toyota isn't immune to the downturn in sales in the United States due to the horrible current economic climate and credit crisis. Revenue is down nearly 70 percent for the Japanese giant, a situation that it is anything but familiar with. So, Toyota has created a team headed by its President Katsuaki Watanabe that will focus on ways to spend less money. Expect the automaker to extend incentives to more of its fuel efficient models, not just full-size pickup trucks and SUVs, and move quickly to bring more fuel-saving models to ... Read more →

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