Sales of CVs in Japan fall by 24% in the first quarter this year
By Will Pulson - 8th July 2024
Japan - The Japanese market for commercial vehicles over 2 tons gvw fell by more than 24% to 82,222 units in the first quarter of 2024 after rebounding by 12% to 108,502 units in the same period of last year, based on data released by the Japan Automobile Manufacturers Association (JAMA).
The Japanese economy shrank by 2.0% year-on-year in the first quarter, according to preliminary government data, following a 0.4% decline in the fourth quarter of 2023 - reflecting weak domestic consumption and exports. Economic output was disrupted by the earthquake on the Noto peninsula in January and the suspension of production at scandal-hit Toyota subsidiaries throughout the quarter.
