Monday, 3rd September 2012
In Business In Japan,
Japanese vehicle sales rise 7.3% in August
Sales of automobiles excluding mini-vehicles rose just 7.3 per cent in August, despite the Japanese government's spending initiative nearing its close.
The Japan Automobile Dealers Association (JADA) said today (September 3rd) that 232,372 vehicles were sold last month - a significant fall on the 36.1 per cent hike witnessed in July.
According to figures published by Reuters, demand for cars rose 8.7 per cent, however, this was offset by a 0.4 per cent decline in truck sales.
Toyota continued to perform well with sales increasing 16.4 per cent in August, in contrast to the 4.7 per cent contraction seen at Mitsubishi.
"To be honest, we had expected a stronger buying rush," a JADA spokesman was quoted by the Wall Street Journal as saying.
"Customers are acting in a calm manner even though they know the budget is going to dry up soon."
The government's purchase incentive is said to have had a remaining budget of 26.2 billion yen on August 30th, the Next Generation Vehicle Promotion Center revealed.
Posted by Mark Smith
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