Japan auto sales plunge 32 per cent in February

Japanese auto sales has plunged 32.4 per cent in February, the biggest fall since 1974 on sinking demand as the global economic downturn deepens, an industry group said Monday.

The Japan Automobile Dealers Association said in a statement Monday, the Japanese bought 218,212 vehicles for the month. The February figure marked the seventh consecutive month of year-on-year decline.

The dismal February result follows a 27.9 per cent drop in sales in January. It also comes amid plummeting demand in the US and other regions, which is ravaging the profits of Japanese automakers, including Toyota Motor Corp, the world’s largest automaker, and Japan’s second automaker, Honda Motor Co.

In 2008, Japanese auto sales fell to their lowest level in 34 years at 3.21 million vehicles.

 

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