Market Updates
Japan Auto Sales In 2022 Drop to 45-year Low
Brian Turner
06 Jan, 2023
New York City
Auto sales in Japan declined to the lowest level in 45 years as automakers struggle with falling demand, supply chain disruptions and chip shortages.
New car sales in 2022 dropped 5.6% to 4.2 million and domestic auto sales fell for the fourth year in a row and reached the level last seen in 1977 when sales were 4.19 million.
The data were reported by the Japan Automobile Dealers Association and Japan Light Motor Vehicle and Motorcycle Association.
Sales of Toyota declined 12.4% to 1.2 million vehicles, Nissan sales declined 0.8% to 272,020 vehicles and Honda sales fell 1.9% to 269,034 units.
Sales of mini vehicles, automobiles with engines smaller than 600 cc, declined 0.9% to 1.6 million vehicles and non-mini vehicles sales fell 8.3% to 2.6 million.
However, December vehicle sales increased 2.4% to 344,365 units and extended monthly gains to the fourth month in a row.
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