Japanese Car Sales Continue to Stall
June 4, 2004
Audio Version 362KB RealPlayer
In Japan, car sales continue to stall, a venerable brand name faces trouble, and rising fuel prices are affecting drivers and air passengers. These are among the stories in this week's look at Japanese business news.
While Japan's economy appears to be gaining speed, the slowdown in new vehicle sales continues.
The Japan Automobile Dealers' Association says domestic sales of new cars, trucks and buses dropped in May for the fourth straight month. The May numbers show more than a 10.5 percent drop compared to the same month of 2003.
Mitsubishi Motors was particularly hard hit, with car sales plunging 56 percent. The sharp drop is blamed on a lack of new models and bad publicity from an attempted cover-up of defects, which is now under criminal investigation.
This article was a Japan business report, non-automotive content removed from text, audio includes full article.
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