Japan’s CV sector enjoys mini-rebounds in Q4
By Jim Gibbins - 1st March 2021
Japan - Japan’s commercial vehicle market over 2 tons gvw expanded by 6% to 98,836 units in the fourth quarter of 2020 from weak year-earlier sales of 93,049 units, based on data released the Japan Automobile Manufacturers Association (JAMA).
The country’s economy continued to rebound strongly in the fourth quarter, by 12.7% year-on-year after contracting by 7.1% in the same period of the previous year in the wake of the general sales tax hike from 8% to 10% in October 2019. This follows a 22.7% rebound in the third quarter, after the economy contracted by a massive 29% in the second quarter as economies around the world shut down in response to the rapid spread of the COVID-19 pandemic.
