Japanese vehicle sales fall 1st May 2003

Japanese vehicle sales fell by 6.5 per cent in April according to figures released by the Japan Automobile Dealers Association.

The data, which excludes 660cc minivehicles, represents the first year-on-year fall in eight months, and included a ten per cent drop in sales of small cars, which account for about four-fifths of the passenger car sector.

However, analysts such as ING Securities analyst Kurt Sanger said they expected the figures to pick up once a number of new models were launched later in the year, particularly Toyota's 'Raum' multi-purpose vehicle and Mitsubishi Motors's 'Grandis' minivan.

'The sales figure shouldn't stay this low,' Mr Sanger commented.

Honda Motor was among the hardest hit companies, seeing non-minivehicle sales fall 38 per cent in April.


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