New vehicle sales in Japan continued to decline sharply in August 2020, by 16% to 326,436 units from strong year earlier sales of 388,600, according to registration data released by the Japan Automobile Manufacturers Association.
After a 32% decline in the second quarter of the year, the market continued to struggle as domestic consumers retrenched further amid rising economic uncertainty due to the global COVID-19 pandemic. GDP plunged by almost 28%, after shrinking by 3.4% in the first quarter, as domestic consumption and exports plummeted.
Go deeper with GlobalData
Vehicle sales in the first eight months of the year declined by close to 19% to 2,930,558 units compared with 3,601,476 a year earlier. Passenger car sales fell by 18.6% to 2,427,099 units in this period, while truck sales were down by 18.5% at 496,356 units and bus sales declined by 27.5% to 7,103 units.
Toyota was one of the best performing major brands in the market year to date, with sales falling by just 14% to 911,973 units; while second-placed Honda reported a 22.3% decline to 409,183 units; Suzuki 401,957 (-15.8%); Daihatsu 371,255 (-17.5%); Nissan 307,800 (-24.1%); and Mazda 116,771 units (-13.7%).
Sales of imported vehicles fell by 15.2% to 18,243 units in August and by close to 22% to 151,414 in the first eight months of the year.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
