— Japan Feb New Vehicle Sales +31.9% Y/Y Vs Jan +40.7%
— Japan Feb New Mini-Vehicle Sales +25.4% Y/Y Vs Jan +29.0%
TOKYO (MNI) – New vehicle sales in Japan posted the sixth straight
year-on-year rise in February thanks largely to a sharp drop in demand
the year before, data released by the Japan Automobile Dealers
Association on Thursday showed.
The buoyant sales also came after the government revived in
December subsidies for buying low-emission vehicles. The program was
finished in September 2010, which caused a year-long stagnation of
domestic vehicle sales.
New vehicle sales jumped 31.9% in February from a year earlier to
333,213 units, the highest sales volume since July 2010, when sales
totaled 333,403 units.
The February reading followed rises of 40.7% in January, 23.5% in
December, 24.1% in November, 28.3% in October and 1.7% in September,
which was the first y/y gain in 13 months.
Separately, the Japan Mini Vehicle Association reported that
domestic sales of new small vehicles (with engine displacement of less
than 660 cc) rose 25.4% y/y to 186,413 in February, the fifth straight
month of a year-on-year rise, following a 29.0% gain in January.
The sales volume in February was the highest for the month of
February.
tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4835 **
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