JAMA issues new 2008 Japanese market volume forecast

Sustained growth in Japanese vehicle exports is projected as a result of the continued strong performance of the Chinese and other emerging economies, and despite the slowdown in the U.S. economy, says JAMA today.
 
It expects continued modest growth for the Japanese economy, with solid capital investment resulting from strong corporate performance. Nevertheless, only a modest increase in consumer spending is anticipated, owing to the slow recovery in personal income and employment. Meanwhile, surging oil prices will drive up prices overall. Furthermore, there will be a sustained decline in the demand for replacement vehicles to comply with the national Motor Vehicle NOx & PM Emissions Act.
 
In view of the foregoing, total demand for passenger cars and commercial vehicles in 2008 is projected at 5.32 million units, down 1.2% from 2007, broken down into 4.41 million passenger cars (down 0.3% on the year); 895,000 trucks (down 5.3%); and 14,400 buses (down 8.3%). Excluding mini-vehicles, whose demand is anticipated at 1.89 million units (down 2.0%), total demand is therefore projected at 3.43 million units (a drop of 0.8% from 2007).
 
(http://www.jama-english.jp/statistics/forecast/2008/080313.html)
 
Toyota Motor President Katsuaki Watanabe has told reporters today that he expects demand in the North American market this year to be level with last year; notwithstanding the ongoing effects of the credit crunch, he believes ¡°US economic fundamentals are strong.¡±
From: auto industry.uk/news

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