Recovery continues for CV sales in Japan in Q2/2023
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By Will Pulson - 10th October 2023
Japan – Japan’s commercial vehicle market over 2 tons gvw continued to recover in the second quarter of 2023, with sales rising by 11% to 86,869 units from 78,064 in the same period a year earlier, based on registration data released by the Japan Automobile Manufacturers Association.
The country’s GDP expanded by a much stronger than expected 6.0% year-on-year in the second quarter, driven mainly by a sharp rebound in exports after last year’s supply chain disruptions, following 2.7% growth in the first quarter. On a quarter-on-quarter basis, GDP growth came in at 1.5% - the fastest rate of growth since 2020.
