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Japan's New Auto Sales Tumble to Record Low in 34 Years

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Japan's domestic sales of new vehicles plummeted to 3,212,342 units in 2008, the lowest level since 1974, as consumption was greatly restricted by worsening economic conditions amid global financial meltdown, the Japan Automobile Dealers Association said on Monday.

The sales have been on the decrease for five years in a row, down by 6.5 percent in 2008 on a year-on-year basis, said the trade body.

In December 2008, new auto sales tumbled to 183,549 units, down by 22.3 percent from a year earlier, said the association.

(Xinhua News Agency January 5, 2009)