Japanese car sales rebound at fastest pace in half a year

To the relief of automakers in Japan, Japanese car sales rebounded sharply at fastest pace in six months in December, giving hope to Abenomics in its bid to ignite growth. Japanese automakers have long been complaining about weaker Yen. Due to long period of deflation has stronger Yen, automakers had moved large chunk of their operations outside Japan, now weaker Yen made it difficult for them to sell the product cheap in their homeland.

Except for 0.3% monthly rise in November and 5.4% growth in June, sales have been contracting since the beginning of the year.

Latest figure sure to provide some relief.

According to, Japan's Automobile Manufacturing Association, sales rose 3.1% in December, from a year ago.

Nikkei however broadly ignored the improvement, as market is focused on global equity selloffs. Yen is relatively stronger, erasing morning loss, trading at 119.1 per Dollar.