— Japan Oct New Vehicle Sales +28.3% Y/Y Vs Sep +1.7%
— Japan Oct New Mini-Vehicle Sales +19.9% Y/Y, 1st Rise in 13 Months
TOKYO (MNI) – New vehicle sales in Japan posted the second
consecutive year-on-year in October, thanks to a sharp drop in demand
the year before which was caused by the end to the government’s reward
program for buying low-emission vehicles, data released by the Japan
Automobile Dealers Association on Tuesday showed.
New vehicle sales rose 28.3% last month from a year earlier to
247,927 units.
The upturn in sales was also supported by the recovery in supply
chains that were battered by the March earthquake disaster.
The October reading followed a rise of 1.7% in September, which was
the first y/y gain in 13 months, and declines of 25.5% in August, 27.6%
in July, 23.3% in June, 37.8% in May and 51.0% in April, which was the
record fall.
The association began compiling automobile sales data in
comparative form in January 1969.
Combined domestic auto production at eight Japanese carmakers fell
4.5% to 883,593 in September from a year earlier, the first year-on-year
fall in two months, the latest industry data have shown.
Separately, the Japan Mini Vehicle Association reported that
domestic sales of new small vehicles (with engine displacement of less
than 660 cc) rose 19.9% y/y to 133,187 in October, marking the first y/y
gain in 13 months after a 9.1% fall in September.
tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4835 **
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