The Japan Automobile Manufacturers Association has said that new vehicle sales there are expected to fall to a 23-year low in fiscal 2007, with sales of minicars posting the first year-on-year decline in seven years.
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According to the Asahi Shimbun newspaper, the association said domestic vehicle sales will fall to about 5.52m units, down 2% from the current fiscal year for a second consecutive year-on-year decline. Perhaps significantly, sales of minicars, which have risen substantially in recent years, will drop to 1.49m units, down 2.2% from fiscal 2006.
The association said minicars, with engine displacements of 660 cc or less, will bear the brunt of a recent stabilisation in petrol prices and a dearth of redesigned models, the paper reported.
On Friday Nissan Motor said it was axing two shifts at two of its Japanese plants due to falling domestic demand.
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