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Tax hike hits Japanese demand deeper than expected in August

New car sales in Japan fell short of expectations with a more substantial decline than seen in recent months.

New car sales in Japan fell more than expected last month, with early figures from the Japan Automobile Dealers Association showing a 5% fall in registered cars to 206,606 units and a 15.1% fall in mini-cars to 126,865 units. August's disappointing performance follows months of more moderate decline since the increase in sales tax (from 5% to 8%) came into effect on 1 April this year.

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