Japan’s truck and bus markets enjoy major uplift in Q4
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By Will Pulson - 9th April 2024
Japan - The commercial vehicle market over 2 tons gvw expanded by 12% to 91,830 units in the fourth quarter of 2023 from 82,119 units a year earlier, based on data released by the Japan Automobile Manufacturers Association (JAMA).
The market continued to rebound strongly following the supply chain shortages of 2022, despite weakening economic output. The country’s economy slipped into recession in the fourth quarter, with GDP shrinking by 0.4% year-on-year and 0.1% quarter-on-quarter, reflecting mainly weak domestic consumption as consumers struggled to keep up with rising prices.
