Japan's new auto sales down to record low

TOKYO: Japan's domestic sales of new vehicles plummeted to 3,212,342 units in 2008, the lowest level since 1974, as spending was restricted by worsening economic conditions amid global financial meltdown, officials said on Monday.

The sales have been on a decrease for five years in a row, down by 6.5 per cent in 2008 on a year-on-year basis, the Japan Automobile Dealers Association said.

In December 2008, new auto sales tumbled to 183,549 units, down by 22.3 per cent from a year earlier, said the association.