New car sales plummet in Japan

Sales of new cars with engine displacements of more than 660 cc totaled 215,783 vehicles in November 2008, down 27.3% in 2007, according to data released by the Japan Automobile Dealers Association on December 1. The drop is steeper than the 5.3% in September and 13.1% in October. If sales continue to weaken at the same pace, annual sales would be around 3.2 million vehicles—the lowest since 1974 right after the first oil crisis. (December 8, 2008)