Vehicle sales in Japan next year may fall to their lowest level in 31 years as unemployment and the economic slowdown keep drivers out of showrooms.
Sales of trucks, buses, cars and minicars may fall 4.9 percent to 4.86 million vehicles from the estimated 5.11 million in 2008, the Japan Automobile Manufacturers Association said Thursday. The tally would be the lowest since 1978, when automakers sold 4.68 million units.
Honda Motor Co. on Wednesday cut its annual profit outlook 62 percent as the global recession and tight credit curb new car demand. Japan is in its first recession since 2001 and big companies, including Sony Corp. and Toyota Motor Corp., are cutting thousands of jobs.