New vehicle sales in Japan have seen a decrease for the first time in three years following the introduction of a tax increase in the fourth quarter of 2019, Nikkei Asian Review reports. Approximately 5.2 million vehicles were purchased last year, compared to 5.27 million units sold in 2018.
The downturn has been attributed to the consumption tax which was increased from 8% to 10% on October 1, which consequently saw year-on-year sales decrease by 25% for October and down by 13% in November. December figures are expected to underperform as well, the report said.
This downward trend is expected to carry over through the coming year. The Japan Automobile Tyre Manufacturers Association expects sales of just under 5.1 million vehicles for 2020, down from the aforementioned 5.2 million vehicles sold in 2019. New mainstream models such as the Honda Fit/Jazz and Toyota Yaris are due to go on sale in the country this year, however a weak environment for consumer spending is likely to further depress demand, the trade association said.
Japanese automakers see the domestic market as undergoing transformation by trends such as vehicle sharing as well as young people who are growing less interested in car ownership, the report said. Vehicle-sharing services in Japan saw 1.2 million registered users in 2019, which equalled 3.5 times the tally in 2014, according to the Foundation for Promoting Personal Mobility and Ecological Transportation in Tokyo.
The decline is only set to continue, as the Japan Automobile Dealers Association expects that demand for new vehicles will drop by more than 30% from 2018 to 3.47 million units in 2040.
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Meanwhile fresh Uni grads here, can afford to buy RM80K brand new Jazz and Yaris. Bayar bulan Rm800 jek… memang ciput la. Minyak murah, tol turun …. Grateful syukur we Malaysian.
Cannot compare our fresh grad minister that somehow afford to buy Alphard with the rest of our normal freshies. Already EPF have reported our fresh grad salaries cannot earn them a living wage whatmore to buy an expensive car. Already we have the most expensive car in the world thanks to Pakatan, now they U Turn with their stupid subsidi program because they now realized it will increase cost of living and not reducing it as supposed to be helping those in need.
To be fair, the rot was so bad. Big momma used rakyat taxpayers money to buy Birkin and luxury jewelleries. much like mugabe n chavez,
I do not mind her buying since it is her own money. She buy so what, our economy was rising, people were getting rich, jobs were plenty, even the poor gets full stomach daily. Now what, Bloomberg reported our region economy is rising except Malaysia dropping, people are getting poorer, jobs are leaving us, even the poor get their allowances and subsidies cut. For what, just so our ministers can buy Velfires and Accords. Give us back big mama and our economy will rise again.
tell that to the lazy 1.6 million Putrajaya residents who just want handouts and don’t want to work hard like others.
Can’t blame the lazy 1.6million Putrajaya residents. They are just following the useless 100 Cabinet ministers directions. If their directions made them lazy, it is not the 1.6 million Putrajaya residents fault but the fault of our useless 100 Cabinet ministers. Change out the current government and you will see the 16 million Putrajaya residents perform well as before PH.
This is important because the Japanese Government need money for the running of the country. Same like Malaysia, we need to tax heavily on cars because the Government need the money to cater to the demands of the majority who are always asking for bantuan kerajaan and subsidi kerajaan.
The entitlement mentality creates a lot of burden to the Government of the day
35 Year tax heavily on cars to plotek Plotong.
Malaysians must stop complaining more and work hard. Look at Singapore, how far they have progressed? Cause they focus on important issues and not calligraphy in schools
20 million over people think this way. Just want help all the time. Already 60 yrs give help, still want some more
Soon China also will increase their tax on cars, then Boyue and X70 also naik harga
Oh really? Then just in time for the debut of X70 CKD with cheaper price despite increase on China taxes. Once again Proton timing is spot on. Kudos!
We the majority must sapot X70 CKD. not CX5 & CRV, although look good balik kampong.
but the majority must buy kereta mewah to show back to Abah and Ibu in kampung they are success in bandar.
So what. They buy because they are successful and not because they use ah long money.
Kesian Japan. They done everything yet still cannot save themselves, look what happen when a foreign CEO comes in. So fast their ailing company were saved. What they need is a foreign PM and foreigners to come in and replace their lazy civil servants that are so used to subsidi, bantuan kerajaan, discounts for everything, even buy house also they demand for discounts, and after retire demand for pension.
In other countries such as ours, our abang-abangs work hard and save their money. They even save for education for their children. They don’t expect bantuan and subsidi kerajaan all the time, especially demanding biasiswas for education.
Time the Japanese change their attitude. Only then, their country can become great again. Take a look at China and how it is growing while Japan is on the decline.
This is why Malaysia never improves. Abang abang already compare themselves at par with Japan.
Jus tlike our ex Ministers say our local universities are higher standard than Oxford University of the UK…..syiok sendiri mentality
Not their fault. For 22 years our klepto PM have been telling us we must follow Japan so it is not the abang-abangs fault to compare with Japan but the fault of our 22 years klepto PM who now returns and klepto-ing again. Only those voted PH syiok sendiri saying voting in the same klepto people will Ubah everything.
To our fanboi: HAHAHAHAHAHAHAHAHAHAHAHAHAHAHA!!!!
Hahaha! Probably Honda will increase price soon because could see result that Honda sales has huge drop compare to last year. So it is time to promote Proton, Mazda, Toyota, Mitsubishi, BMW, Mercedes, Hyundai or Kia
syujur…cars are still affordable in Mesia. For the least, fresh grad can buy second hand jap car. Heck, even bangla and indon could afford used Proton Wira these days…