Well, I can't predict when the market will turn, or when Toyota's (NYSE: TM) stock will once again be in favor, but I can tell you that I won't be buying its shares here. According to this article, Toyota may not do as well as it planned in terms of sales in 2008 in the U.S. market. The company told investors that year-over-year growth in the number of cars sold is now in question. In 2007, Toyota moved 2.62 million automobiles in the U.S., and for 2008, Toyota wanted to sell 2.64 million cars.

I probably don't need to say it, but I will: considering the negative trends in oil futures, gas prices, consumer confidence, inflation, recession potential, and the housing industry, the fact that the stocks of Toyota, General Motors (NYSE: GM), and Ford (NYSE: F) are having a really tough time right now is not surprising. Toyota's stock closed down 2% on the news of the sales struggle at the end of Tuesday's trading session. That's not a particularly horrible downward move, and the stock is still a few bucks above its 52-week low, but I think there's a chance the stock will take out that low at some point.

Investing in the auto industry might be a dicey move here. Sure, you could pick up some bounces, but being early in this space could prove depressing for even the heartiest investor. Auto sales might get worse before they get better (they're pretty bad now as it is), so I'll stay away from Toyota and this sector.

Disclosure: I don't own any company mentioned here; positions can change at any time.

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