— Japan May New Vehicle Sales +66.3% Y/Y Vs Apr +92.0%
— Japan May New Vehicle Sales Post 9th Straight Y/Y Rise
TOKYO (MNI) – New vehicle sales in Japan posted a ninth straight
year-on-year rise in May on government subsidies and a recovery from a
plunge caused by the March 2011 earthquake disaster, data released by
the Japan Automobile Dealers Association on Friday showed.
New vehicle sales rose 66.3% to 236,366 units in May, with the pace
of gains decelerating from +92.0% in April and +78.2% y/y in March.
Sales marked the first year-over-year gain in 13 months last September.
In December the government revived subsidies for buying
low-emission vehicles. The program was first finished in September 2010,
which caused a year-long stagnation of domestic vehicle sales.
Separately, the Japan Mini Vehicle Association reported that
domestic sales of new small vehicles (with engine displacement of less
than 660 cc) rose 66.6% y/y to 158,584 in May, the eighth straight
year-on-year rise, following a 96.0% gain in March.
** MNI Tokyo Newsroom: 81-3-5403-4835 **