Japan earthquake may hit local car prices

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Japan earthquake may hit local car prices

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Japan disaster can affect the prices of local manufactured cars.

31 March,2011 08:57 pm

According to a research report, the prices of local manufactured cars may surge as Japan auto industry has destroyed due to earthquake and tsunami and many major companies have decided to close their plants across the world. Earlier, the sales of new car fall as customers felt the impact of an increase in General Sales Tax (GST) and with heavy flooding causing displacement of people and severe disruption to business across the country. In January 2011, cabinet passed legislation extending the age limit on imported used cars from 3 years to 5 years