Japan new auto sales in 2009 below 5 million units

Japan’s new vehicle sales in 2009 declined 9.3% from the previous year to 4,609,255 units amid a serious recession, slipping below 5 million units for the first time in 31 years, industry sources said. New vehicle sales declined for the fifth consecutive year, indicating that the Japanese vehicle market has been shrinking amid young people’s shift away from cars. The 2009 sales figure represents a plunge of 40.7% from a peak of 7,777,493 units in 1990. ”As it is difficult to anticipate a fast recovery in car demand, the situation for the auto industry is likely to remain severe for the immediate future,” an official of the Japan Automobile Dealers Association said. (January 5, 2009)