Japanese new vehicle sales: eco-car incentives to salvage 2012 sales to 5M units
2011 sales drops by 15.0% to 4.21 million units due to earthquake
2012/02/02
- Summary
- Second round of Eco-car Subsidy Program likely to salvage 2012 sales to five million units, 2011 sales drops by 15.0 % to 4.21 million units due to earthquake
- Eco-car Subsidy Program to be revived and Eco-car Tax Break to be extended
- Passenger car market: Nissan surpasses Honda to second place; imported cars' share expands
- Sales volume by model: Toyota Prius holds on to first place for third consecutive year, while Honda Fit emerges to second place
- Auto fleet is slightly up to 73.859 million units at the end of 2010, while mini car fleet continues to rise
- (Reference) New vehicle sales in Japan by brand and vehicle type
Summary
The Great East Japan Earthquake and the flood in Thailand had a negative effect on the 2011 Japanese new vehicle sales; it dropped by 15.0% over the previous year to 4.21 million units. The sales are, however, likely to turn upward by 19.1% to five million units due to the economic stimulus packages, "Eco-car Subsidy Program" and "Eco-car Tax Break," according to JAMA (Japan Automobile Manufacturers Association).
In the passenger car market, Nissan won the second largest share due to its rapid recovery from the stalled production by the earthquake. In contrast, due to the slow production recovery from the earthquake and the flooded Thailand Plant, Honda slipped to third place. As for sales by model, the Toyota Prius made it to first place for the third consecutive year despite decrease in sales by 20% over the previous year. The Honda Fit moved to second place.
| Related reports: |
FY2011 outlooks of Japanese OEMs and influence of Thailand flooding (November 2011) Japanese OEMs' production and business results (June 2011) |
Free membership registration allows you to read the rest of the article for a limited time.