Japanese 2004 New Car Sales Forcast - Flat

TOKYO February 22, 2004; Dow Jones reported that sales of new vehicles in Japan are expected to total around 4.02 million units this year, almost unchanged from the previous year, the new head of the Japan Automobile Dealers Association said Monday, according to Kyodo News.

"Sales recovery is still not solid enough. The key is how the economy will fare," Nanao Oguri, who is concurrently president of Nagoya Toyopet Co., told reporters.

Last year, sales of new cars, trucks and buses, excluding minivehicles, came to 4,027,000 units.

Oguri said sales of trucks increased sharply last year as demand for new trucks grew due to tighter diesel-engine emission regulations that took effect in the Tokyo metropolitan area Oct. 1.

Truck sales may decline this year in the wake of that spike in demand, Oguri said.