Automobile sales post year-on-year rise in Japan

Sales of automobiles in Japan were up12.6 percent in October compared with the same month last year, according to statistics released by the Japan Automobile Dealers Association on Monday, in the latest sign that the nation's manufacturing sector is beginning to improve.

The 263,506 units sold in October was down from 310,991 in September, in line with month-on-month fluctuations, but year-on-year, the was a significant rise in sales. In 2008, 233,922 units were sold.

Both regular and compact cars saw sales rise year on year, by 23.4 percent and 15.5 percent respectively. However, the outlook was worse for large automobiles, such as trucks and buses.

Freight cars saw sales decline by 28.4 percent, while buses saw 21.1 percent decline.

Many of Japan's current sales of regular cars will be connected to stimulus measures put in place by the government, including benefits given to customers who buy, for example, hybrid cars, that are good for the environment.

Japan has suffered an economic slump since last summer, when shock waves from the credit crisis in the United States reached the country.

Data released on Monday showed that household incomes and employment are both continuing to fall.

Prime Minister Yukio Hatoyama announced on Monday that his government may spend 3 trillion yen on a further package to stimulate the economy between now and March.

Source:Xinhua