Japan's new car sales plunge to 34-year low in 2008

Japan's new car sales plunge to 34-year low in 2008 Tokyo - New car sales in Japan dropped the lowest in 34 years in 2008 as consumer appetite waned amid economic recession, the Japan Automobile Dealers Association said Monday.

The sales of new cars fell to 3,212,342 units in 2008, down 6.5 per cent from the year before, the association said. The figures exclude small car sales.

Annual sales in the record year of 1990 reached 5,975,089 units.

Sales of passenger cars fell 5.2 per cent, while truck sales declined 14.8 per cent and bus sales dipped 1.8 per cent.

Due to sales declines, Japanese automakers cut output, investment plans and lowered their earnings forecast for the full fiscal year through March 31. (dpa)

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