New vehicle sales in Japan fell 19.4 percent in May from a year ago, sliding for a 10th straight month amid a chronic domestic market slump and the global economic crisis, an industry group said. In th
e worst figure for May on record, 178,503 new cars, trucks and buses were sold last month, compared with 221,377 a year ago, according to the Japan Automobile Dealers Association. "For the month of May, this is the worst figure" since the association began taking statistics in 1968, said an association spokesman. Japanese auto sales have fallen every month since July 2008, when the industry saw a 5.4 percent increase. The Japanese auto market has suffered years of sluggishness as many people, particularly young people in large cities, opt for public transport to avoid the high cost and taxes of maintaining cars. Weak consumer spending during the ongoing recession, the worst in modern Japanese history, has also weighed on auto sales. Japanese auto makers have idled plants and slashed thousands of jobs in response.
e worst figure for May on record, 178,503 new cars, trucks and buses were sold last month, compared with 221,377 a year ago, according to the Japan Automobile Dealers Association. "For the month of May, this is the worst figure" since the association began taking statistics in 1968, said an association spokesman. Japanese auto sales have fallen every month since July 2008, when the industry saw a 5.4 percent increase. The Japanese auto market has suffered years of sluggishness as many people, particularly young people in large cities, opt for public transport to avoid the high cost and taxes of maintaining cars. Weak consumer spending during the ongoing recession, the worst in modern Japanese history, has also weighed on auto sales. Japanese auto makers have idled plants and slashed thousands of jobs in response.Source : http://www.google.com/hostednews/afp/article/ALeqM5jc3NHDyX1IHGb8plOAP8PTPqgWQA
