The Japanese car market has bottomed and should avoid further declines next year according to a Volkswagen Japan exec.
Volkswagen Group Japan Chief Executive Gerry Dorizas told reporters in Tokyo that he believes the market next year won’t be any worse than this year and that the Japanese car market’s weakness had little to do with the international financial crisis.
He did, however, say that the first four months of the year will be difficult.
Reuters said that Japan’s market for foreign cars has shrunk 12% this year, compared with a 2.8% fall in the overall market.
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Analysts say the domestic makers have pulled out the stops to hang on to sales and share this year, a situation that normally puts lower volume importers at a disadvantage in a soft market.
