TOKYO (MNI) – New vehicle sales in Japan fell 30.7% from a year
earlier to 203,246 units in November, the third consecutive y/y fall
after -26.7% in October, as the government ended its subsidy for buying
low emission automobiles in September, data released by the Japan
Automobile Dealers Association showed on Wednesday.
This compares with the 46.7% y/y surge in sales in August, when
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.
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.
In November passenger car sales fell 33.5% from a year earlier to
178,463 units (vs. -28.8% y/y in the previous month).
Truck sales stood at 24,082, slightly up from 24,075 in the same
month of 2009 after falling 3.3% in October, while sales of buses fell
20.8% to 701 units, marking the third straight y/y drop following -25.4%
in the previous month.
Separately, the Japan Mini Vehicle Association reported that
domestic sales of new mini vehicles (with engine displacement of less
than 660 cc) fell by 15.9% in November from a year earlier to 120,354,
posting the second straight y/y drop following -16.2% in the previous
month.
In January 2010, mini vehicle sales showed the first y/y rise in 15
months, up 0.7%.
tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4833 **
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