NEW YORK -- Toyota Motor Corp. has cut its forecast for the U.S. auto market this year and now expects overall industry sales of around 15.5 million cars and trucks, according to Toyota executives at the New York car show. That range "is looking to be a more reasonable and realistic view," Randy Pflughaupt, vice president for marketing at Toyota Motor Sales USA, said at the auto show. At the start of the year, the Japanese automaker had predicted the market would be flat in 2008, with sales totaling between 16 million and 16.1 million vehicles.

DETROIT -- General Motors Corp . said Thursday it has set up a joint venture to build Chevrolet cars and sport utility vehicles in Uzbekistan. The company announced the agreement with manufacturer UzAvtoSanoat in the capital of Tashkent. GM said UzAvtoSanoat already does final assembly of a small number of Chevrolets from kits that come from South Korea. UzAvtoSanoat will become a full manufacturer of Chevrolets, with plans to build 250,000 vehicles in the next few years.

WASHINGTON -- Auto-parts supplier Delphi Corp. has won court approval to sell its wheel bearings business to Kyklos Inc . for $46.2 million. Judge Robert Drain of the U.S. Bankruptcy Court in Manhattan on Wednesday approved the sale following an auction last month. Kyklos, a unit of Hephaestus Holdings Inc ., beat out Resilience Capital's $44.2 million lead bid at last month's auction. Before the auction, Drain cleared Delphi to pay Resilience a $1.5 million breakup fee if its bid was topped at auction.

STOCKHOLM, Sweden -- AB Volvo will pay back the profits that two of its subsidiaries made under the oil-for-food program in Iraq -- plus a fine of $19.6 million -- to avoid prosecution, the Swedish truck maker said Thursday. The company said it has entered agreements with the U.S. Securities and Exchange Commission and the U.S. Department of Justice, resolving issues related to the oil-for-food program.