TOKYO -- Toyota lowered its global sales target for 2009 to 9.7 million vehicles on Thursday, down from an earlier 10.4 million vehicles, blaming "tough times," caused by rising material costs, a slowing U.S. market and soaring gas prices, according to The Associated Press.

Toyota has already trimmed its global vehicle sales forecast for this year to 9.5 million vehicles from the previous 9.85 million.