02:26 ET<\/span>
\n<\/span><\/p>\nSale of new vehicles in Japan has plunged in the aftermath the earthquake and tsunami that hit the country’s north-east coast.<\/p>\n
Automobile sales in March fell by 37% compared to the same month a year ago.<\/p>\n
Japan’s auto sector has been hit hard by the quake with production at biggest auto manufacturers halted due to a shortage of parts and power cuts. <\/p>\n
Toyota motors led the falls as its sales dropped 46%.<\/p>\n
Nissan Motor’s sales slumped 38% while Honda Motor’s numbers retreated 28%. <\/p>\n
The earthquake and tsunami hit Japan on 11 March causing widespread damage to the country’s infrastructure.<\/p>\n
There have been concerns that the breakdown of supply chain and shortfall of parts will dent profits at Japan’s auto makers. <\/p>\n
The latest numbers are the first indicators of the the extent of damage that may hit the sector in the short to medium term. <\/p>\n
Earlier on Friday, Toyota Motors’ President Akio Toyoda warned that the suspension of production at its factories will hurt the company’s profits. <\/p>\n<\/p><\/div>\n<\/p>\n
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