Japan's Domestic Car Sales See First Increase in 13 Months

Strategic Insights -

Japan's domestic sales of new cars, trucks, and buses rose 2.3% in August from the same period last year, marking the first increase in 13 months. The sales totalled 198,265 vehicles, up from 193,902 in August 2008, according to the Japan Automobile Dealers Association. Toyota and Honda, two of Japan's largest automakers, both reported higher sales in the month, with Toyota's sales increasing by 9% and Honda's sales rising by 13.4%. The increase in sales follows a period of gradually narrower declines over the past five months, partly due to tax breaks and subsidies to stimulate demand after the economic crisis.

Key Takeaways:

  • Japan's domestic car sales increased by 2.3% in August 2009 from the same period last year, marking the first increase in 13 months.
  • Sales totalled 198,265 vehicles, up from 193,902 in August 2008.
  • Toyota's sales, excluding those of its Lexus brand, rose 9.0% in August, the first on-year increase since July last year.
  • Honda reported a 13.4% rise in sales for the second consecutive month.
  • Nissan posted a sales decline of 1.4% in August.
  • The increase in sales follows a period of gradually narrower declines over the past five months, partly due to tax breaks and subsidies.
  • The figures do not include sales of mini-cars or mini-trucks.

Statistics:

  • Sales of new cars, trucks, and buses in August 2009: 198,265 vehicles
  • Sales of new cars, trucks, and buses in August 2008: 193,902 vehicles
  • Increase in sales from August 2008 to August 2009: 2.3%
  • Toyota Motor Corp. sales (excluding Lexus) in August: 9.0% increase
  • Honda Motor Co. sales in August: 13.4% increase
  • Nissan sales in August: 1.4% decline

Sources:

  • Japan Automobile Dealers Association (JADA) - http://www.jada.or.jp
  • Dow Jones Newswires - yoshio.takahashi@dowjones.com