Japan’s CV market declines by more than 6% in Q2
By Will Pulson - 8th October 2024
Japan - Japan’s commercial vehicle market over 2 tons gvw continued to decline in the second quarter of 2024, by over 6% to 81,114 units from 86,752 units a year earlier, based on registration data released by the Japan Automobile Manufacturers Association, despite a strong rebound in economic activity in the country.
The Japanese economy rebounded by 3.1% year-on-year in the second quarter after shrinking by a revised 2.3% in the first quarter, when economic activity was disrupted by a major earthquake on the Noto peninsula in January and by the suspension of production at scandal-hit Toyota subsidiaries throughout most of the first half.
