— Japan July New Vehicle Sales +36.1% Y/Y Vs June +40.9%
— Japan July New Vehicle Sales Post 11th Straight Y/Y Rise
— Japan July New Mini-Vehicle Sales +40.3% Y/Y Vs June +48.4%
— Japan July New Mini-Vehicle Sales Post 10th Straight Y/Y Rise
TOKYO (MNI) – New vehicle sales in Japan posted an 11th straight
year-on-year rise in July on government subsidies and a recovery from a
plunge caused by the March 2011 earthquake disaster, data released by
the Japan Automobile Dealers Association on Wednesday showed.
New vehicle sales rose 36.1% on year to 328,543 units in July, but
the pace of increase decelerated from rises of 40.9% in June, 66.3% in
May, 92.0% in April and 78.2% in March. Sales marked the first
year-over-year gain in 13 months last September.
In December the government revived subsidies for buying
low-emission vehicles. The program was first finished in September 2010,
which caused a year-long stagnation of domestic vehicle sales.
But as the program is running out of money due to strong demand, it
may be terminated in August, one month earlier than expected, press
reports have said.
Separately, the Japan Mini Vehicle Association reported that
domestic sales of new small vehicles (with engine displacement of less
than 660 cc) rose 40.3% y/y to 184,582 in July, the 10th straight
year-on-year rise, following a 48.4% gain in the previous month.
tokyo@marketnews.com
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