Japan’s January car sales best since 1997 – will deflate when new taxes kick in

Honda HQ in Tokyo

Honda HQ in Tokyo

Auto sales in Japan surged 29.4 percent year-on-year as consumers race to lock-in lower taxes. In April, the country’s sales tax rate will go to 8 percent from 5 percent, causing a boomlet as purchases of high ticket items such as cars, houses, and jewelry are pulled forward. [Continue Reading]