The Japan Automobile Industry Association announced on the 24th that it expects domestic vehicle sales in 2009 to fall by 8.0% from the previous year to 4.297 million. This is the lowest record in the past 32 years, and the previous minimum record was about 4.23 million in 1977.
As the domestic economy has no signs of bottoming out, this is the fourth consecutive year that the auto industry expects sales to shrink from the previous year. Companies are forced to significantly reduce production and control labor costs, which may lead to further deterioration of the employment environment and economic situation.
The president of the Japan Automobile Industry Association and Honda President Aoki Suzuki said at the press conference that the recent consumer demand trend "has a tendency to further weaken."
At the same time, the estimated domestic sales volume for the year of 2008 was 4,669,800 units, a decrease of 12.2% from the previous year.
As the domestic economy has no signs of bottoming out, this is the fourth consecutive year that the auto industry expects sales to shrink from the previous year. Companies are forced to significantly reduce production and control labor costs, which may lead to further deterioration of the employment environment and economic situation.
The president of the Japan Automobile Industry Association and Honda President Aoki Suzuki said at the press conference that the recent consumer demand trend "has a tendency to further weaken."
At the same time, the estimated domestic sales volume for the year of 2008 was 4,669,800 units, a decrease of 12.2% from the previous year.
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