Heavy-duty truck maker Hino Motors Ltd. fell 7.5% after Lehman Brothers and Holdings Inc. downgraded the stock. The stock was down by 40 yen at 495 in Tokyo market. In the report published by Lehman Analysts yesterday, it was stated that Hino may see larger impact on growth due to declining sales of Toyota Motor Corp.

Hino has been forced to reduce the production of FJ Cruiser and other SUVs for Toyota as the sales are lower in US markets due to higher oil prices. Toyota Motor Corp reported a decline of 16% in sales of trucks due to higher energy costs and possible recession in United States.

Hino Motors stock has been downgraded from “overweight/neutral” to “equalweight/neutral”.

Crude Oil prices have declined in last couple of weeks. Vehicle sales in US dropped after as Nymex Crude was hovering around $140 per barrel last month.