Automakers are waging a price war in an attempt to lift sales amid the prolonged recession.
By slashing the recommended retail prices of remodeled cars as well as launching new models, they hope to bolster their competitiveness and spur demand.
In the past, dealers sometimes negotiated price cuts with prospective car buyers in the showroom on models that would soon be superseded by newer versions. But the current move to reduce prices of newly remodeled cars is the first of its kind in Japan, an industry watcher said.