Japan's new vehicle market rose by 2.5% to 364,216 units in August from already strong year earlier sales of 355,307 units, according to registration data released by the Japan Automobile Manufacturers Association.
Revised government data suggests the country's GDP expanded 3% year on year in the second quarter, driven by strong capital expenditure. Sentiment remained subdued, however, reflecting the ongoing global trade tensions and a string of natural disasters in the country in recent months.
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The market in the first eight months of the year (YTD) was still 0.8% lower at 3,538,227 units from 3,565,395 units YTD last year, reflecting mainly a 1.1% fall in passenger vehicle sales to 2,963,250 units while truck sales increased by 1.2% to 565,739 units. Medium and heavy duty bus sales were 21% lower at 9,238 units after strong growth in previous years.
Toyota was the main loser YTD with sales falling by 6.7% to 1,011,225 units, while Honda saw its volumes rise by 3.8% to 494,315 units; Suzuki 484,332 units (+5.8%); Daihatsu 432,864 units (+1.4%); Nissan 429,838 units (-1.4%); and Mazda 150,853 units (+5.7%).
