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TRD president expects cutbacks

Updated: January 14, 2009, 10:01 PM ET
Associated Press

CHARLOTTE, N.C. -- The president of Toyota Racing Development said Wednesday he expects budget cuts in its NASCAR program as the Japanese automaker feels the effects of the global economic crisis.

Typically immune from the declining sales that have rocked Detroit's Big Three automakers, Toyota recently said it anticipates its first yearly operating loss in 70 years for the fiscal year ending March 2009.

The losses will have a ripple effect on Toyota's racing program, TRD president ...

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