Car sales fall 5th straight year in Japan

Published: Jan. 5, 2009 at 4:24 PM

TOKYO, Jan. 5 (UPI) -- Domestic sales of new cars in Japan fell for the fifth consecutive year in 2008, the Japanese Auto Dealers Association said Monday.

Sales for 2008, with 3,212,342 new vehicles sold, were 46 percent of the 5.98 million sold in the record-setting year of 1990, Kyodo News reported.

"Consumer sentiment cooled rapidly" during the year, the association's director Takeshi Fushimi said.

The sales decline accelerated as the year progressed with sales of 183,549 vehicles in December down 22.3 percent compared with December 2007. Amid the downturn, Toyota Motor Corp. said it expected its first operating loss for a fiscal year, while Honda Motor Co. downgraded its 2008 earnings expectations for the third time.

Daihatsu sales fell 37.5 percent; Isuzu sales fell 14.4 percent and Nissan sales dropped 7 percent, the report said.

Japanese purchases of foreign brands also dropped, falling 16.3 percent.

© 2009 United Press International, Inc. All Rights Reserved.
Order reprints



Additional News Stories
COL FB: Georgia Tech 49, Duke 10 (6 min)
Statham gets 1,000th coaching victory (22 min)
ESA said comet chaser's boost a success (36 min)
World's largest cruise ship in Florida (55 min)
Brazilian blogger naming cheating victims
UPI NewsTrack Entertainment News
Munch's 'History' stolen from art dealer
fark
Photoshop this lonely highway
Thought the chimp attack was fierce? "[H]e grabbed my leg with his mouth and went to jerking on...
We can't stress this enough: If you're claiming disability checks, it's best not to be a golf champion...
Another day another student/teacher sex story. With hottie female teacher picture goodness
Career-limiting move of the day: While forwarding himself a copy of a "White Pride" email he wants...
You think you've got a tough job? Imagine being the veterinarian who has to help an elephant lose...