New vehicle sales in Japan increased 7% to 405,174 units in July 2024 from 379,052 units a year earlier, according to registration data released by the Japan Automobile Manufacturers Association.
This was the market’s first year on year expansion since the end of last year when Daihatsu was ordered to halt all production after an investigation found it had falsified safety test results over decades. This also affected sales of models shared with other brands including Toyota, Mazda and Subaru. In early May Daihatsu was allowed to resume full production with the company beginning to recover lost ground as it fulfils its order backlogs.
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Latest data showed the Japanese economy continued to shrink in the first quarter of 2024, by 2.9% year on year following a 0.4% decline in the fourth quarter of 2023, reflecting sluggish overall domestic consumption and exports. Economic activity was disrupted by the earthquake on the Noto peninsula in January as well as Daihatsu’s production stoppages.
In the first seven months of 2024 the vehicle market declined 10% to 2,532,664 units after growing by 16% to 2,829,652 in the same period of last year, with passenger vehicle sales declining by just under 10% to 2,138,780 units while truck sales dropped by over 15% to 387,748 units. Sales of medium and large buses and coaches continued to grow strongly in this period, by 36% to 6,136 units.
Toyota’s sales fell by 20% to 768,720 units year-to-date, with deliveries also affected by a data rigging scandal at an affiliated diesel engine supplier. Daihatsu’s sales plunged by 53% to 162,780 units, while Mazda’s sales were down by 30% at 80,099 units. Companies not affected by the recent Toyota Group scandals fared much better, including Suzuki with a 13% increase to 434,488 units; and Honda with 401,565 (+22%); while Nissan’s sales were just 1% lower at 288,630 units.
Honda began selling its Indian made WR-V compact SUV in Japan earlier this year and recently said it planned to launch a commercial use mini EV version of the N-VAN in October, targeting mainly the local parcel delivery market.
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