Toyota in reverse for third straight quarter

Toyota Motor Corp, the world's largest automaker, posted its third straight quarterly drop in sales after demand plunged in the US, Europe and Japan.

Sales fell 27 percent to 1.77 million vehicles in the three months ended March 31, from 2.41 million a year ago, Toyota spokesman Yuta Kaga said in Tokyo yesterday. The figures include Daihatsu Motor Co and Hino Motors Ltd subsidiaries.

Toyota has forecast its first annual loss in 59 years. The global recession has forced Japanese automakers to cut jobs and production, while Detroit automakers General Motors Corp and Chrysler LLC have turned to the US government for aid to survive.