Toyota VP predicts auto market slump

James Rusenstein, vice-president of Toyota Motor Corp in Europe, said in a radio interview that he expects the European auto market to fall in 2003 from the previous year.

Earlier today, the CCFA automobile manufacturer's association reported a 9.4% slide in November new car registrations, with registrations for the first 11 months of this year down 6.5% on a comparable basis.

Rusenstein said: "France will see a decline this year, I think that the situation will recover, slowly, from next year."