Wednesday, August 02, 2006

July new vehicle sales hit lowest level since 1974

Sales of new vehicles fell 9.1 percent in July from the previous year to 317,928 units, the lowest intensity for a July since 1974, and an industry body said Tuesday.

The figure, which keeps out mini-vehicles with engines of 660cc and under, represents the 13th straight month of decline, the Japan Automobile Dealers Association said.

Industry analysts said consumers are choosing to purchase fuel-efficient mini-cars to replace their larger vehicles because of rising gasoline prices.

The July sales fall was led by an 11.4 percent refuse in car sales to 267,772 units.

Sales of small cars with engines of 661cc to 2,000cc fell 14.3 percent to 163,841 units. Sales of larger cars dropped 6.5 percent to 103,931 units.

However, truck sales rose 5.7 percent to 48,737 units for the 16th straight month of growth, while sales of buses fell 6.6 percent to 1,419 units.

                

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