"In the short run, the European economy and a possible slowdown in the recovery of the U.S. auto market is a concern," Toyota CEO Akio Toyoda told Bloomberg. He added that the yen is also a "major concern."
However, a stronger yen will erode profits and Toyota is already seeing a slow down in the European market. Toyoda brushed off concerns of slowing demand in emerging markets like China, saying there is plenty of growth left.
"Though there is concern over the Chinese economy's outlook, there is still sustainable growth in China, and the buyers are spreading to the middle class," he said.
