With U.S. auto sales figures for November just around the corner, the industry is bracing for more bad news. But America isn’t the only place where new vehicle sales are hurting. According to a new report, sales in Japan could be the lowest since 1974 — roughly 3.25 million units for 2008.
Domestic sales in the country dropped 5 percent in September, and 13 percent in October. November is shaping up to be the worst month yet, with sales expected to fall 33 percent, according to the Nikkei news service. Even if December 2008’s sales are equal to December 2007’s, new car sales in Japan are on track to hit a 34-year low.
The sales slump began with large models and imports, but even the most fuel efficient minivehicles, which have engines of 660cc or less, are selling at a slow pace. Such cars are not included in regular automobile sales reports, but even if they were, overall sales so far this year would be down 25 percent.
The slowing demand will lead to further reduction in production, which is sure to impact thousands of workers.
12/01, 1:21 PM
posted by:
mayer_ray_nagin
Sheesh. Toyota and Honda combined in the USA sell more than the entire Japanese car market.
12/01, 2:21 PM
posted by:
yarddog82abn
LOL….. mayer_ray… your right, and I’m purity sure they care more how they do here in the U.S., then at there own home…
12/01, 2:27 PM
posted by:
Lariat Luxury Locomotive Liner No.3
Owning a vehicle in Japan sucks, unless you are out in the limited country areas. And a vehicle with over 30,000 km is considered past its prime.
12/01, 4:15 PM
posted by:
sequoiatrader
Maybe if the Japanese would just make cars that people want to buy……
12/01, 6:09 PM
posted by:
DB9
@mayer_ray_nagin
Yes and we have let them import and produce domestically without the costs that the domestic industry has – labor costs imposed on them by the UAW with tacit approval of the political establishment. Washington wants their votes! So what would have happened if we said to Toyota, Honda and others that you can produce and sell here but for every vehicle you sell we will apply a $2000+ surcharge to level the playing field? We gave them the market – GAVE IT TO THEM!! INCREDULOUS!!
DB9
12/02, 5:21 PM
posted by:
nitinsharma1000
“Maybe if the Japanese would just make cars that people want to buy……” Whiskey Tango Foxtrot
12/05, 1:41 PM
posted by:
jackjimturkey
Japan doesn’t need cars as badly anyway. It invested wisely in mass transit.
LLLL#3: And you’ve got to have a place to park it. When I was there in the ’90s, some garage spaces were renting for $300+ a month ….