Japan's vehicles sales fall on rising fuel prices

Japan’s vehicles sales fall on rising fuel prices

Japan's domestic sales of new cars, trucks and buses fell 1.5 percent year on year in August due to the rising fuel prices. Data from the Japanese Automobile Dealers' Association (JADA) show that the country's new vehicle sales, excluding mini-vehicles, amounted to 246'877 units in August. JADA indicates that the rising oil prices are denting consumer spending, resulting in sales falling. Passenger car sales decreased 3.7 percent to 203'537 units last month. On the other hand, bus sales rose 1.4 percent to 1'623 units and truck sales increased 10.3 percent to 41'717 units. Separately, the Japanese Mini-Vehicle Association disclosed that mini-vehicle sales reached 119'348 units, a year-on-year increase of 6.6 percent. Sales last month fell at five of Japan's 12 automakers, including Toyota, which is Japan's largest automaker, and Honda, the country's third-largest automaker. On the other hand, sales rose at Nissan and Mitsubishi.