Japan sales decline continues in March | Automotive Industry News

Japan’s new vehicle market continued to shrink in March 2020, by 9.2% to 581,438 units from 640,813 units a year earlier, according to registration data released by the Japan Automobile Manufacturers Association.

The market had been in decline since the government hiked the general sales tax rate from 8% to 10% at the beginning of October last year.

This had a significant impact on fourth quarter domestic consumption after businesses and consumers pulled purchases forward ahead of the tax hikes.

Vehicle sales declined by 16.3% to 1,045,531 units in the final three months of last year, resulting in a 1.5%

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