Japan registers another month of grim car sales

Posted on 08/10/2008 under: News

Earlier this year, we informed you about the dreadful state of Japan's car sales, and hoped that things would turn for the better. However, people in Japan seem to have fallen in love with everything other than driven as car sales in the country dropped further this month.

Japan's leading economic website, Nikkei.net reports that Japanese cars are becoming less popular in the country. Domestic sales in the country for cars, trucks and buses dropped 3.6% on the year, making it the second month in a row which has seen slump in sales. For the first six of months this year, sales were also down close to 1%, making it the third straight year which has seen this pattern.

One can blame the rise in crude oil prices for this terrible condition in Japan, but other markets have not been experiencing such a steep fall. Economists in Japan observe car sales closely each month at is serves as the first indicator to determine the tone for the economy.

Source: Carblog