This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/go/rss/int/news/-/news/business-17187292
The article has changed 2 times. There is an RSS feed of changes available.
Previous version
1
Next version
Version 0 | Version 1 |
---|---|
Japan retail sales boosted by surge in demand for cars | |
(40 minutes later) | |
Japan's retail sales rose more-than-expected in January driven up by a surge in car sales as government subsidies on energy efficient cars boosted demand. | Japan's retail sales rose more-than-expected in January driven up by a surge in car sales as government subsidies on energy efficient cars boosted demand. |
Retail sales rose 1.9% from a year earlier, with car sales up by 24%. | Retail sales rose 1.9% from a year earlier, with car sales up by 24%. |
The jump comes after Japan reintroduced subsidies of up to 100,000 yen ($1245; £786) per car to encourage sales. | The jump comes after Japan reintroduced subsidies of up to 100,000 yen ($1245; £786) per car to encourage sales. |
The country's carmakers were among the worst hit businesses by last year's earthquake and tsunami. | The country's carmakers were among the worst hit businesses by last year's earthquake and tsunami. |
In December, the Japanese government announced that it would set aside 300bn yen as part of its subsidy programme for energy efficient cars. | In December, the Japanese government announced that it would set aside 300bn yen as part of its subsidy programme for energy efficient cars. |
Analysts said the subsidies were likely to boost sales further in the coming months. | |
" The Japanese automotive association predicts that domestic car sales in 2012 will reach 5 million, up 19% year-on-year due to subsidy and normalization of the supply chain disruption," said Takuji Okubo of Societe Generale in Tokyo. | |
"Car sales account for 10% of Japanese retail sales, and if the association's prediction is true, it would boost overall retail sales by 1.9% in 2012." |
Previous version
1
Next version