"The stability allows for the right production adjustments and price optimization, resulting in improved profitability"
- Jesse Toprak, vice president of market intelligence at TrueCar.com
Japanese domestic new car sales fell for the first time in 13 months, as Japan's government ended a subsidy program for fuel-efficient vehicles purchases. Only about 447,000 vehicles were sold in September, down by 3.3 per cent from the same month in the previous year, according to the Japan Automobile Dealers Association data.
"The SAAR range so far this year has been one of the tightest in the recent history, ranging in between 13.8 and 15.1 million," said Jesse Toprak, vice president of market intelligence at TrueCar.com.
"Even though the lack of big movements in car sales makes for less attractive headlines, the stable growth in sales is a positive for the industry. The stability allows for the right production adjustments and price optimization, resulting in improved profitability."
The Nikkei 225 Stock Average added 0.89 per cent, or 77.72 points, to 8,824.59. The broader Topix Index added 1.10 per cent, or 7.99, to 735.38.
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