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Thursday, 2nd August 2012
In Business In Japan,

Recovery sees Japanese auto sales spike

Japan is finally recovering from the effects of the tragic twin-disaster last year, with sales in the vehicles industry beginning to spike.

New figures from the Japan Automobile Dealers Association showed car sales, excluding mini-vehicles, rose 36 per cent in July.

According to Reuters, which published the results, truck sales rose 27.3 per cent to total 32,175, while car sales increased 37.3 per cent to 295,581.

That brought the total sum of vehicles sold last month to 328,543, reflecting considerable gains on July 2011.

This was complemented by the latest estimates from the International Monetary Fund (IMF), which projected the Japanese economy would grow by 2.5 per cent this year.

Despite the fact the country is experiencing an uplift in the wake of last year's earthquake and tsunami, the IMF remained cautious.

It was quoted as saying: "Reducing the public debt burden is a top priority, but this task is complicated by low growth, persistent deflation and a rapidly aging population."

Posted by Susan Ballion