New vehicle sales in Japan tumbled more 25% in October from the same month a year ago, the steepest year on year fall in 18 months as subsidies for green cars ended.
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The Japanese Automobile Dealers Association said that sales of new cars, trucks and buses, totalled 193,258 units in October, down 26.7% from a year earlier.
The drop followed a 4.1% fall in September and was the biggest decline since a 28.6% drop in April 2009. A JAMA official said that the main reason for the fall was the ending of government incentives which encouraged people to buy more environmentally-friendly vehicles. The scheme ran out at the end of September.
The end of the scheme was a further blow to Japanese carmakers who are struggling to cope with the yen’s strength against other major currencies.
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