Japan’s sales hike in September

sales hike

Japan’s new vehicle market hopped by 12.9% to 548,209 units in September from 485,377 units in the previous year according to registration data released by the Japan Automobile Manufacturers Association.

While GDP growth in the country slowed sharply in the second quarter, to 1.2% year on year from 1.9% in the first quarter, reflecting mainly a sharp drop in exports, the domestic economy, including vehicle sales, was lifted ahead of a hike in the general sales tax rate from 8% to 10% at the beginning of October.

Total vehicle sales in the first nine months of the year were higher by 3.1% at 4,149,685 units from 4,023,606 units in the same period of last year, with truck sales rising by 8.0% to 697,490 units while bus sales were up by 4.9% at 11,036 units and passenger vehicle sales were 2.2% higher at 1,184,524 units.

Toyota sales rose by 6.9% to 1,215,999 units YTD, after declining by 5% in the whole of 2018, while Honda sales were up by 6.1% at 599,871 units, Suzuki was down to 543,924 (-1.0%); Daihatsu 521,510 units (+7.1%); Nissan 467,263 units (-4.8%); and Mazda 163,070 units (-6.1%).

The auto industry widely expects the Japanese domestic market to weaken in the fourth quarter of the year after many buyers brought forward their purchases into the third quarter ahead of a tax hike.

Shreyas Tanna

About Shreyas Tanna

The winner of Mr. Pune 2009 Pageant, Mr. Shreyas Tanna is currently the young, dashing, and dynamic CEO of a market research company called Research N Reports in Pune. Fondly known as RNR, the company specializes in market research as well as industry analysis, and is closely associated with its parent company Absolute Markets Insights (AMI). Mr. Shreyas Tanna began his corporate journey as the Head of Corporate sales & PR at RED Entertainment while pursuing his degree for MMS (Marketing) from the MGM College of Management, Mumbai. After accomplishing the tedious task of balancing his work and education, he further polished his skills in Corporate Sales, Public Relations, Channel Development, Global Client Engagement, Strategic Consulting, and Brand Development by working with HDFC Life and ResearchMoz Global Pvt. Ltd. His dedication towards his work has even won him accolades such as the National Level Performer 2013 – HDFC Life and Mr. ResearchMoz 2015. A disciplined individual with a loving heart, he is often seen taking crisp walks with an engrossed look and a gentle smile within the premises of his company to interact with the various departments. And he will be usually followed by an adorable trail of his beloved trio of Shih Tzu babies proudly known as Gucci, Drake, and Paris. The most enticing thing that you will notice about this content and proud pet parent is his infectious positivity and the firm belief in his eyes, a reflection of his favorite quote, “LIFE IS BEAUTIFUL!”

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