TOKYO (MNI) – New vehicle sales in Japan fell 21.5% from a year
earlier to 187,154 units in January, the fifth consecutive y/y fall
after -28.3% in December, after the government ended its subsidy for
buying low emission automobiles in September, data released by the Japan
Automobile Dealers Association showed on Tuesday.
In August 2010, new vehicle sales surged 46.7% y/y as consumers
rushed to car dealerships before the government finished receiving
applications for the program. It will still continue applying lower tax
rates to buying and owning low-emission vehicles.
The sales figure slid to as low as 179,666 in December, the lowest
since May 2009, when sales totalled 178,503.
Before the jump in August, the pace of increase in auto sales had
been on a downtrend from +15.0% y/y in July, +20.6% in June, +28.0% in
May and +33.5% in April. In August 2009, domestic new vehicle sales rose
2.3%, posting their first y/y rise in 13 months.
Separately, the Japan Mini Vehicle Association reported that
domestic sales of new mini vehicles (with engine displacement of less
than 660 cc) fell by 11.4% in January from a year earlier to 108,185,
posting the third straight y/y drop following -11.4% in the previous
month.
tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4835 **
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