Financial Times FT.com

Japan and S Korea hit by car sales slump

By Jonathan Soble in Tokyo and Song Jung-a in Seoul

Published: December 1 2008 17:09 | Last updated: December 1 2008 17:09

Car sales in Japan and South Korea plunged by nearly 30 per cent last month, confirming that the worst motor industry downturn in decades has spread well beyond the US.

The erosion in the home markets of Toyota, Honda, Hyundai and others compounded damage from falling exports and deepened the sense of crisis among Asia’s big carmakers.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this