CV sales rise in Q1 in Japan as economic recovery continues
By Will Pulson - 3rd July 2023
Japan - The Japanese market for commercial vehicles over 2 tons gvw rebounded by 12% to 108,502 units in the first quarter of 2023 after declining by 18% to 96,757 units in the same period of last year, based on data released by the Japan Automobile Manufacturers Association (JAMA).
The country’s economy expanded by a better-than-expected 1.3% in the first quarter, after shrinking by 1.0% both a year earlier and in the fourth quarter of 2022. Growth was driven by strong domestic consumption, helped by the removal Covid-related restrictions that were in place a year earlier and by pent-up demand resulting from last year’s supply chain shortages.
