The Japanese new vehicle market continued to grow strongly in August, by 6.7% to 388,600 units from 364,218 units a year earlier, according to registration data released by the Japan Automobile Manufacturers Association.
Buying activity was clearly increasing ahead of the planned sales tax hike from 8% to 10% scheduled for the beginning of October.
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Total vehicle sales in the first eight months of the year were higher by 1.8% at 3,601,476 units from 3,538,229 units in the same period of last year, despite a slowdown in second quarter GDP growth to 1.2% year on year from 1.9% in the first quarter and weakening investment in the country.
Passenger car sales expanded by just 0.6% to 2,982,303 units YTD, reflecting a weak first quarter, while the truck segment continued to lead the market forward with a 7.7% sales rise 609,383 units. Sales of medium and large buses were up by 6% to 7,960 units.
Toyota sales rose by 4.9% to 1,060,773 units YTD after declining by 5% in the whole of 2018 while Honda sales were up 6.6% at 526,767 units, the Suzuki tally was 477,631 (-1.4%), Daihatsu 450,237 units (+4%), Nissan 405,569 units (-5.6%) and Mazda 135,298 units (-10.3%).
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By GlobalData
