Japanese market of passenger cars fell 18.1% over 9 months 2020
- Japan's passenger car market fell 18.1% in the first 9 months of 2020, compared to the first 9 months of 2019, while the decline reached 20.1% in the first 6 months of 2020, compared to in the first half of 2019, due to the coronavirus crisis. So things are improving over the months, but catching up on lost sales will not happen by the end of the year, or even next year.
- The fall for September 2020 is 14.8%, quite comparable to that of August 2020, and at this rate the Japanese market should end the year at -17.5% or even -15% if the improvement was confirmed in the fourth quarter of 2020.
- It is to remind that Japan is one of the countries that has been least affected by the coronavirus since the drop in registrations has never exceeded 50% on a monthly basis. The months of April and May 2020 were the worst with a drop of 30.4% in April and a drop of 46.7% in May. Then the situation gradually improved.
- Monthly registrations practically returned to their pre-crisis rhythm since June and September is the month that comes closest to the figures for the same month of the previous year.
- Inovev's previous forecasts for a Japanese market, between -10% and -15% for the whole year, are therefore difficult to achieve, with the -15% drop now being the most optimistic forecast.
Contact us: info@inovev.com