Tokyo - Toyota Motor Corp said Tuesday that its global sales in 2008 fell 4 per cent from the year before as consumption waned amid the global economic slowdown.

Despite the sales drop to 8.97 million cars, Japan's leading automaker said it still expected to become the world's top automaker by sales, overtaking General Motors Corp for the first time. In terms of global production, Toyota became the world's top auto producer in 2007.

The US auto giant had been more than 300,000 units in sales behind Toyota in the first nine months of the year. It is due to announce its end-of-year figures on Wednesday.

Toyota's domestic sales dipped 5 per cent to 2.15 million units, and overseas sales fell 4 per cent to 6.82 million units, the company said.

It has been hit hard by a rising yen and a slowdown of exports caused by the global financial crisis.

The automaker has forecast an operating loss of 150 billion yen (1.66 billion dollars) for its 2008 fiscal year, which ends in March.

Toyota also said Tuesday that it promoted vice president Akio Toyoda, 52, to company president, effective in June, to pull the business out of its slump.

Toyoda, the grandson of the company's founder, would be the first founding family member in 14 years to head the company.

Current president Katsuaki Watanabe is to become vice chairman and Chairman Fujio Cho is to retain his post, the company said.

The appointment is to be finalized at a board meeting scheduled after an annual shareholders meeting in late June. (dpa)