March 25, 2019

Forecast for Japan’s Motor Vehicle Demand in Fiscal Year 2019

1. Projected Vehicle Demand in Fiscal Year 2018
Total demand for passenger cars and commercial vehicles in Japan in fiscal year 2018 (ending March 31, 2019) is expected to finish at 5.33 million units, an increase of 2.5% from the previous fiscal year, with sales of passenger cars and CVs, excluding mini-vehicles, totalling 3.37 million units, up 0.8% from fiscal 2017, and sales of mini-vehicles reaching 1.96 million units, up 5.5%. The projected increases in sales of passenger cars, CVs and mini-vehicles are attributable to Japan’s gradually expanding economy and the impact of new models introduced to the market, with those positive factors effectively dampening the adverse impacts caused by the earthquakes, torrential rains and damaging typhoons Japan experienced during fiscal 2018.

2. Forecast for Vehicle Demand in Fiscal Year 2019
For fiscal 2019, total demand for passenger cars and commercial vehicles is forecast at 5.22 million units, a decline of 2.0% from the previous fiscal year, with sales of passenger cars and CVs, excluding mini-vehicles, totalling 3.35 million units, a decrease of 0.5% from the level projected for fiscal 2018, and sales of mini-vehicles finishing at 1.87 million units, down 4.5%. Thus, despite the slowdown in Japan’s economic expansion and resulting depressed demand which are anticipated in fiscal 2019, passenger car and commercial vehicle sales are forecast to remain virtually unchanged from the fiscal 2018 projections and only a small decline is forecast for mini-vehicle sales. These forecasts are attributable to various factors, including the permanent reductions in the automobile tax and the new, automotive environmental performance-based tax measures which are to be introduced in the upcoming fiscal year.

Forecast for Vihicle Demand in Japan in Fiscal Year 2019

Click here for: Detailed Forecast for Motor Vehicle Demand in Japan in FY 2019

Click here for: Fiscal Year 2018 Actual Figures