Toyota sees Japan sales dropping 20 percent in 2013

toyotaToyota Motor Corp (7203.T) expects Japan vehicle sales to fall by a fifth next year, in part due to the end of government tax incentives for fuel-efficient automobiles, domestic media reported, adding to the pain from a decline in China sales. Japanese vehicle sales account for 30 percent of Toyota’s total sales volumes, and industry data shows that since the end of government tax incentives for purchases of fuel-efficient cars in mid-September, domestic new vehicle sales have fallen each of the past three months.

Toyota has decided to set its 2013 domestic sales target for Toyota-brand cars at 1.36 million vehicles, down from its 1.67 million target for this year, the Mid-Japan Economist, a regional newspaper, said on its website without citing sources.

Source: Reuters

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