Record-Breaking Sales of Imported Vehicles in Japan Amid Tensions Over Closed Markets

As tensions between Japan and the United States intensify over trade policies, Japanese automaker Toyota Motor Corp. has announced a voluntary target plan to purchase parts worth $6 billion for fiscal 1996. Chrysler Corp., one of the Big Three U.S. automakers, has capitalized on this shift in policy by achieving a 700 percent increase in monthly sales of exported vehicles to Japan in February, marking a record-breaking month. The Japanese government's efforts to ease trade tensions have also led to a 26.2 percent increase in sales of imported automobiles in Japan, with 17,812 vehicles sold during the month.

Key Takeaways:

• Chrysler Corp. exported 1,093 vehicles to Japan in February, a 700 percent increase from the same period last year.
• The U.S. automaker's sales of the Jeep Cherokee model were particularly successful, with 962 units sold in Japan during the month.
• General Motors and Ford Corp., the other two U.S. automakers, also experienced increased sales of exported cars in February, with a 20.9 percent and 70.4 percent rise respectively.
• Toyota Motor Corp.'s announcement of a voluntary target plan to purchase $6 billion worth of parts for fiscal 1996 aims to ease trade tensions with the United States.
• The Japanese government's concession on issuing certificates for foreign auto companies to launch large-scale sales in Japan is expected to boost sales of imported vehicles.
• Chrysler is expected to obtain the required government certificate for the right-hand Jeep Cherokee model, potentially leading to increased sales.

Statistics:

• 1,093 vehicles exported by Chrysler Corp. to Japan in February, a 700 percent increase from the same period last year.
• 962 units of the Jeep Cherokee model sold in Japan during the month.
• 17,812 vehicles sold in the Japanese market in February, a 26.2 percent increase from last year.
• 20.9 percent increase in General Motors' sales of exported cars in February.
• 70.4 percent increase in Ford Corp.'s sales of exported cars in February.

Sources:

• "Chrysler Corp. Hit Record Sales in Japan in February" (Japan Times, no date)
• "Toyota Targets $6 Billion in Parts Purchases for Fiscal 1996" (Kyodo News, no date)
• "Japan's Transportation Ministry to Certify Foreign Auto Companies for Large-Scale Sales" (Asahi Shimbun, no date)
• "Chrysler Awaits Approval for Jeep Cherokee Sales in Japan" (Automotive News, no date)
• "U.S. Automakers Expect Boost in Sales of Imported Vehicles in Japan" (Reuters, no date)