Japanese Auto Industry to Shrink 14% in 2011
When the final numbers will be added up at the end of the year, we’ll likely see see 4.25 million cars sold.
“Since sales had a sharp decline last year after the government’s subsidies ended, we expect sales for the rest of the year to increase,” said Toshiyuki Shiga, chairman of the automakers group.
Also to blame is the fact that the Japanese government cut the subsidies offered for fuel-efficient cars in September.
However, it’s not all bad news, as the manufacturers association also says that in the period between September to March, sales will increase 17 percent from the same period a year ago.