Hong Kong (CNN) – Figures last month out of China for Japanese auto companies paint a pretty stark picture of the impact on sales of anti-Japanese sentiment over a group of disputed islands.
Sales for Toyota vehicles in the world’s largest car market fell 40% year-on-year in September, mimicking similar declines for Mazda and Nissan. Meanwhile, General Motors had record car sales in China last month, as did South Korean carmaker Hyundai.
All of which suggest calls by Chinese nationalists to stop buying Japanese products are taking a bite out of Tokyo profits. But do economic boycotts really work?
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