- The Japanese automobile market for passenger cars fell 14.1% in the first quarter of 2020, compared to the first quarter of 2019, due to the coronavirus crisis. The Japanese automotive market had already suffered a 1% drop in the first quarter of 2019 compared to the first quarter of 2018.
- The drop recorded in the first quarter of 2020 is much less than that recorded by automobile production in Japan during the same period. In fact, production suffered from sharply falling exports (due to the collapse of world markets), while for the market, imports represent such a small part (5.5%) that it does not impact not the market as a whole.
- For the past thirty years, the share of imports into Japan has fluctuated between 5.5% and 6.5% and therefore today we are at the lowest point. Japan is one of the countries with the lowest percentage of imports.
- However, the decline in the Japanese market reached -30% in April, against -9% in March, -10% in February and -12% in January. The situation has therefore worsened since March and it is difficult today to know whether the Japanese market will plunge in May or stabilize. It should be remembered that Japan was affected later than China, and a little later than Europe or the United States.
- In both cases, the decline in the Japanese market should be around 10% to 15% over the whole year, if the coronavirus crisis does not drag on.
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