Japan market Forecast in 2016 (PC+LUV)
- After a fairly decent year in 2014, the Japanese automotive market (PC + LUV) fell in 2015, with a decline that is expected to approach 10% throughout the year, to a level lower than 5 million units.
- The economic expansion derailed in 2015 due to a sharp slowdown in demand from China and other Asian countries and sluggish private consumption. According to the OECD, output growth is projected to pick up to 1% in 2016, as rising net wages support consumer spending.
- For the automotive market, a slight increase is noticeable since last summer. In 2016 Inovev foresees a slight restart of the market, with a growth of almost 3% compared to 2015.
- The ranking of carmakers will not change, with a strong predominance of Toyota, far beyond its competitors, Honda, Renault-Nissan and Suzuki. Mazda, Mitsubishi and Subaru being far behind.
The rate of imports in Japan remains one of the lowest recorded among major global markets (between 5% and 6% of the market) and it is not due to change in coming years.
The rate of imports in Japan remains one of the lowest recorded among major global markets (between 5% and 6% of the market) and it is not due to change in coming years.
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