Japan’s industry wide auto sales, including 660cc minivehicles, rose 17.4% year on year in March to 783,389 vehicles, industry data showed on Tuesday, as consumers rushed to buy vehicles ahead of the sales tax hike starting in April.
A Reuters report noted Japan raised its sales tax from 5% to 8% on Tuesday (1 April, 2014).
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The Japanese auto lobby expects auto sales to drop 15.6% in the fiscal year to March 2015 to 4.75m vehicles.
