Wednesday, 18 January 2012 at 13:55, Bloomberg
Auto sales last year in Japan, led by Toyota Motor Corp, fell 15 per cent. (REUTERS)
Japan’s automakers group lowered its forecast for domestic demand this year amid mounting concern Asia’s second-biggest economy may slow.
Demand for cars, trucks, and buses in the country may grow 19 per cent to 5 million units from 4.2 million last year, Japan Automobile Manufacturers Association said in a statement on its website today. That’s shy of the projected increase Chairman Toshiyuki Shiga forecast on December 20, when he said sales would rise by about 900,000 units.
Auto sales last year in Japan, led by Toyota Motor Corp, fell 15 per cent - the most since the association data stretching back to 1989 - after the March 11 earthquake disrupted production and damped demand. The World Bank today cut its forecast for economic growth in Japan to 1.9 per cent from 2.6 per cent pace estimated in June.
Passenger cars sales may increase 20 per cent to 3.2 million units this year, while demand for minicars will grow 17 per cent to 1.78 million units, the group said.
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