Photo: original image created by autoevolution
The strong yen is putting extra pressure on the once mighty Japanese automotive industry, making exports highly uncompetitive. With an eye on the future and a nothing better to do in order to help the automakers, the government will continue to provide its tax breaks for fuel-efficient cars for anther three years.
According to a policy approved by the members of the Tokyo cabinet, the scheme will now end in April 2015 instead of the same month next year.
The gears of the Japanese manufacturing industry are grinding to a halt and the automakers have already been struck hard by the recent flooding in Thailand that reduced parts supplies.
Our request isn't only to reduce the tax burden, but it's to combat the strong yen, prevent a hollowing out and maintain domestic production," Toshiyuki Shiga, head of the Japan Automobile Manufacturers Association, said on Nov. 15.
Story via Automotive News
The gears of the Japanese manufacturing industry are grinding to a halt and the automakers have already been struck hard by the recent flooding in Thailand that reduced parts supplies.
Our request isn't only to reduce the tax burden, but it's to combat the strong yen, prevent a hollowing out and maintain domestic production," Toshiyuki Shiga, head of the Japan Automobile Manufacturers Association, said on Nov. 15.
Story via Automotive News
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