"Overall, we're looking for a relatively challenging industry," Jim Lentz told reporters about the annual forecast that is not yet final.
WASHINGTON (Reuters) - Toyota Motor Corp <7203.T> expects U.S. sales to grow by about 3 percent in 2008, roughly the same pace as this year, the company's U.S. president said on Wednesday.
"Overall, we're looking for a relatively challenging industry," Jim Lentz told reporters about the annual forecast that is not yet final.
"I think we have a broad product line-up that will address whatever direction needs to be taken," Lentz said.
Toyota's annual domestic sales growth has slowed recently from the nearly 10 percent range experienced between 2004-06 as its fleet mix matured.
!ADVERTISEMENT!"There are no big segment busters that we see on the horizon that will result in a big uptick in sales as we had in the run-up to 2004-06," Lentz said.
Toyota offers products in 98 percent of the light vehicle market, which includes passenger cars, sport utilities and pickups. Full-size vans is the only segment where Toyota does not offer a product, Lentz said.
Toyota, the leader in gasoline-electric hybrid production, expects to sell more than 250,000 hybrids this year in the United States, almost 11 percent of total U.S. vehicle sales. More than two-thirds represent much stronger sales of the company's Prius model. Hybrid sales represent about 2 percent of total industry business.
Lentz said hybrids will continue to be "a big part" of Toyota's market in the future.
Toyota has 16 new or refreshed products for 2008. Lentz declined to discuss the changes, but said some will be announced at next month's international auto show in Detroit.
Toyota is on pace to sell more than 2.6 million vehicles in the United States this year. Toyota USA 2007 sales through November were up 3.6 percent.
(Reporting by John Crawley; Editing by Brian Moss)
