Sales of new cars in Japan have fallen for the 14th consecutive month, a trend automaker executives blame on a declining population and decreasing interest in car ownership among younger Japanese.
Auto sales are at their lowest level since 1977 with 466,166 vehicle sales, of which 170,526 were minivehicle (660cc) sales. Minivehicles receive tax incentive promotions because of their small size relative to congested Japanese roads and they have been more immune to the sales slump traditional vehicles have had. Japanese bought 291,640 traditional vehicles in June, an 11.2 percent drop, according to today’s report from the Japan Automobile Dealers association.
Automotive News reports that just three Japanese brands – Lexus , Mitsubishi and Suzuki – posted sales increases for non-minivehicle sales in June.
Other Japanese stalwarts, such as Toyota , Fuji Heavy Industries Ltd. ( Subaru ), Nissan Motor Co. and Honda Motor Co., all saw sales drops, as well.
