Japan auto lobby slashes FY vehicle sales forecast

September 14, 2016 11:25 PM EDT

FILE PHOTO - Cars are parked in a parking lot in Chiba, east of Tokyo, March 14, 2008. The world's top greenhouse gas polluters will try to work out ways to curb carbon emissions from industries and fund cleaner energy projects for poorer nations when the

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TOKYO (Reuters) - Japan's auto industry lobby on Thursday slashed its forecast for new vehicle sales by 8 percent to 4.845 million for the current business year citing a delay in the sales tax hike originally scheduled for next April.

The new figure would represent a 1.9 percent fall from the last fiscal year that ended in March 2016, the Japan Automobile Manufacturers Association said. It had previously forecast a 6.5 percent rise to 5.258 million vehicles.

The government decided in June to postpone the sales tax hike, to 10 percent from 8 percent, by 2-1/2 years to October 2019.

(Reporting by Maki Shiraki; Editing by Chang-Ran Kim)

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