Moderate rebound for Japanese CV market in Q2 2021
By Will Pulson - 6th September 2021
Japan - Japan’s commercial vehicle market over 2 tons gvw expanded by just 9% to 91,928 units in the second quarter of 2021 after declining by 22% to 84,437 units a year earlier, according to www.AsiaMotorBusiness.com analysis of data released by the Japan Automobile Manufacturers Association.
GDP grew by 7.5% year-on-year in the second quarter and by 1.3% on a seasonally adjusted annual rate (SAAR) from very low figures in the same quarter of the previous year, when the economy plunged by almost 28% under the initial impact of the coronavirus. The second quarter was nevertheless an improvement on the revised 3.7% year-on-year decline in the first quarter of 2021, driven by an upturn in household consumption, business investment and government spending.
