Yet more evidence of the truly global nature of the motor trade meltdown as the Japan Automobile Dealers Association reveals that January's new vehicle sales in Japan fell to the lowest level for 37 years as the wide-spread economic crisis battered consumer confidence. Domestic sales of new vehicles in Japan declined 27.9 percent in January from a year earlier to 174,281 units for the sixth consecutive monthly decline.
The figure was about half the January 1990 peak of 325,468 cars, the association said.
Japanese automakers have been slashing jobs and cutting costs and production to weather the crisis and the Yen's sharp appreciation.
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