Japan's Latest Auto Sales Data Shows a Decrease for the First Time in 7 Months
Japanese Automobile Sales Decline in July 2021
New automobile sales in Japan saw a decrease in July 2021, marking the first decline after seven consecutive months of growth. The overall sales volume dropped by 3.6% year-on-year, amounting to approximately 390,516 units [1].
The decline was primarily due to significant drops at Nissan Motor Co. and Honda Motor Co. Nissan's sales fell sharply by about 18.9%, mainly attributed to delays in launching new models [1]. Honda's sales dropped approximately 12.3% [1].
In contrast, Toyota Motor Corp. and Subaru Corp. also experienced sales decreases, although less pronounced [1]. However, specific sales figures for these companies were not provided in the given data.
On the positive side, Mitsubishi Motors Corp. and Mazda Motor Corp. continued to perform strongly, bucking the overall trend [1]. Unfortunately, no specific sales figures were provided for these companies in the data released.
The decline affected both passenger and freight vehicles, with sales dropping by 4.2%, and minivehicles, which saw a 2.6% decrease [1]. The total number of new automobile sales in July was lower than the previous month's sales.
The sales drops at Nissan, Honda, Toyota, and Subaru were not mentioned in the previous bullet points. Honda's sales decline exceeded 10%, and Nissan's decline was due to delays in releasing new models.
The data was released on Friday by the Japan Automobile Dealers Association and the Japan Light Motor Vehicle and Motorcycle Association. The decline in new automobile sales in Japan in July affected all vehicle categories, including minivehicles.
[1] Source: Japan Automobile Dealers Association and the Japan Light Motor Vehicle and Motorcycle Association.
The decline in Japanese automobile sales in July 2021 was not limited to Nissan Motor Co. and Honda Motor Co., as both Toyota Motor Corp. and Subaru Corp. also experienced sales decreases, albeit less pronounced. The finance sector, specifically the automotive industry, may see a ripple effect due to these declines in sales, potentially impacting the broader transportation industry. Honda's sales decline exceeded 10%, while Nissan's decreased due to delays in launching new models.
