Government Pushes Fuel Efficient Vehicle Growth

Despite the positive effect of government subsidies on Japan's new vehicle sales, BMI has lowered its sales forecast for 2009 to a decline of 11% based on results for the first nine months of the year. Sales fell 15.5% y-o-y, with none of the vehicle segments achieving positive growth. Industry sales totalled 3,404,065, comprising passenger car sales of 2,893,938 units (-14%), truck sales of 500,076 units (-23.15%), and bus sales of 10,051 (-19.44%). The worst performance came from the standard truck segment, which contracted almost 45%. These results do show a marginal improvement from H109, however, when total sales were

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