Japanese dump cheaper cars for luxury models
Weak demand for light cars, which account for one in three vehicles sold in the country, means industry sales are set to shrink for second straight year
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JAPANESE consumers are raiding discount stores for everything from cheap shampoo to furniture. But when it comes to cars, it's the Rolls-Royces and BMWs that are moving off the dealer lots.
The number of luxury imported cars costing 10 million yen (S$133,240) or more surged 19 per cent in the first nine months to 13,605 units, reaching the highest proportion of imports in a decade. At the other end of the spectrum, deliveries of minicars such as the Nissan Dayz, which starts at about US$11,000, have slumped 11 per cent to 1.3 million units.
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