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Toyota and Nissan Say the U.S. Auto Market Has Peaked

  • Nissan doesn’t see potential for industry growth in U.S.
  • Toyota pares North America sales forecast by 60,000 vehicles
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Toyota, Nissan Turn to Incentives in U.S. Market

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Japan’s two largest carmakers have arrived at the same conclusion: the U.S. auto market that’s functioned as a growth engine has run out of gas.

Toyota Motor Corp. cut its forecast for North American sales this fiscal year by 60,000 vehicles and for the first time said it’s expecting a decline for the year, as American consumers shift away from fuel sippers like the Prius hybrid and toward trucks and sport utility vehicles. Nissan Motor Co., which posted a drop in profit as it gave heftier incentives that buoyed deliveries, said it’s not seeing room for further expansion.