Japan's new auto sales continue to fall

Japan's domestic sales of new vehicles fell 6.0 percent year-on-year to 396,508 units in October for the fourth consecutive month of drop, due to the effects of the consumption tax hike in April, data released by industry bodies showed Tuesday.
The rate of decline was much sharper than September's 0.8 percent fall, according to the Japan Automobile Dealers Association and the Japan Light Motor Vehicle and Motorcycle Association.
Sales of registered vehicles, which exclude mini-cars and mini-trucks with engines no larger than 660 cc, slid 9.1 percent from a year earlier.
Japan is the world's third-biggest vehicle market after China and the US. Dealers said the domestic sales of new vehicles have been sluggish due to the consumption tax hike in April, which was raised sales tax from 5 percent to 8 percent.