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FY '09 car sales up for 1st time in 7 years

Posted by Junichi Kawagoe on 02.2010 News Out of English Newspaper   0 comments   0 trackback
New vehicle sales in Japan in the last fiscal year which ended in March grew by 10 percent from the previous year, marking the first increase in 7 years.

The Japan Automobile Dealers Association says domestic sales for fiscal 2009 increased by 10 percent from fiscal 2008 to 3.182-million units, the first sales increase since fiscal 2002. The figure did not include mini-vehicles with engine displacements of up to 660cc.

The association says the figure reflected a rebound from fiscal 2008, which marked the lowest sales figure in 38 years, following the global financial crisis.

It says the favorable trend came on the back of government tax breaks and subsidies for the purchase of fuel-efficient and eco-friendly vehicles.

Honda Motor's sales increased by 28.8 percent, Mitsubishi saw a 20.4 percent rise, Toyota marked 15.3 percent up and Nissan 4.7 percent.

But the industry says, with the government subsidies set to expire in September, auto sales are likely to be stalled around 3-million units and may decline again in fiscal 2010.

Domestic sales of mini-vehicles in fiscal 2009 fell 6.1 percent from the year earlier to 1.69-million units, marking the 3rd consecutive year of decline.

2010/04/01 20:13(JST)
(JST: UTC+9hrs.)

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