Japan’s market rebound continues in Q3 of FY 2023
By Will Pulson - 9th January 2024
Japan - Japan’s market for commercial vehicles over 2 tons gvw continued to recover in the third quarter of 2023, by 15% to 95,079 units from weak year-earlier sales of 82,361 units, based on data released by the Japan Automobile Manufacturers Association (JAMA).
The country’s economy shrank by a worse-than-expected 2.1% in the third of 2023, according to provisional data released by the government, the first year-on-year decline in three quarters following strong growth of 4.8% in the second quarter. Quarter-on-quarter, economic output shrank 0.5% after growing by 1.2% in the second quarter, reflecting falling capital expenditure, weakening exports and flat consumer spending.
