New car sales fall by one-third in Japan in November
Friday 03 December 2010
New vehicle sales in Japan fell by nearly one-third in November, suffering the biggest year-on-year fall in 20 months as subsidies for green cars ended, an industry group said Wednesday.
Sales of new vehicles fell for the third straight month to 203,246 units in November, down 30.7 percent from a year earlier, according to the Japanese Automobile Dealers Association.
It was the biggest fall since March 2009. The total number includes cars, trucks and buses but excludes minicars with 660cc engines or less.
"Sales fell in response to the end (in early September) of subsidies for environment-friendly cars," an association official said.
"There is no doubt that demand had risen in advance" of the subsidy's expiration, he said, adding it was difficult to predict when sales would pick up.
The Japanese government ended in early September a popular subsidy to encourage motorists to buy eco-friendly cars, a measure that had boosted demand in the wake of the crippling effects of the financial crisis.
The end of the scheme has dealt a blow to Japanese automakers, which are struggling to cope with the yen's strength against other major currencies, forcing them to scale back production.
A strong yen erodes exporters' incomes when repatriated while making their products more expensive and less competitive abroad.
Life & Style blogs
The Swedes are adding a gender-neutral pronoun to their dictionary
Astrological signs are almost all wrong, as movement of moon and sun throws out zodiac
PTSD photo series documents what the disorder is really like – as study reveals suicides of 22 US veterans every day
The distress of some Zayn Malik fans is real, and they need support, say experts
Eating quinoa and whole grains every day could help you live longer
Nigel Farage brands LGBT activists 'filth' and 'scum' and accuses them of scaring away his children after they invade his local pub
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
JK Rowling responds to fan tweeting she 'can't see' Dumbledore being gay
Russia threatens Denmark with nuclear weapons if it tries to join Nato defence shield
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Germanwings plane crash live: Co-pilot Andreas Lubitz wanted to 'do something people would remember him for'
- 2 The West has it totally wrong on Lee Kuan Yew
- 3 #FreeTheNipple: Women in Iceland bare breasts in solidarity with trolled student
- 4 Scientists have discovered a simple way to cook rice that dramatically cuts the calories
£32000 - £38000 per annum: Ashdown Group: A successful accountancy practice in...
£18000 - £23000 per annum + Uncapped commission: SThree: Does earning a 6 figu...
£18000 - £25000 per annum: Recruitment Genius: This is an exciting opportunity...
£35000 - £40000 per annum: Recruitment Genius: A challenging opportunity for a...