Japan In January 2013: Down, But Not As Bad As Some Tell You

A new year started in Japanese auto sales, and the easy double digit up times while comparing with a disaster 2011 are over. It's getting worse: This year, Japan's new car sales compare to 2012 sales on government-speed:  Japanese could collect hefty subsidies in most of 2012, no such largesse this year.  In January, new car sales are not down 12.9 percent, as  the Dow Jones News Wire make you believe. They are down 7.8 percent, as correctly reported by Reuters. But down is down. Please come to the tables. Regular vehicle sales Japan January 2013 Manufacturer Jan '13 Jan '12 YoY YTD '13 YTD '12 YoY Daihatsu 195 199 -2.0% 195 199 -2.0% Hino 2,319 2,358 -1.7% 2,319 2,358 -1.7% Honda 20,960 44,269 -52.7% 20,960 44,269 -52.7% Isuzu 3,095 3,444 -10.1% 3,095 3,444 -10.1% Lexus 3,564 3,158 12.9% 3,564 3,158 12.9% Mazda 12,635 12,862 -1.8% 12,635 12,862 -1.8% Mitsubishi 5,260 4,749 10.8% 5,260 4,749 10.8% Mitsubishi Fuso 1,617 2,008 -19.5% 1,617 2,008 -19.5% Nissan 44,210 39,650 11.5% 44,210 39,650 11.5% Subaru 10,087 5,917 70.5% 10,087 5,917 70.5% Suzuki 5,178 6,371 -18.7% 5,178 6,371 -18.7% Toyota 105,355 124,633 -15.5% 105,355 124,633 -15.5% UD Trucks 483 555 -13.0% 483 555 -13.0% Other 14,375 13,094 9.8% 14,375 13,094 9.8% Total 229,333 263,267 -12.9% 229,333 263,267 -12.9% Data courtesy Japan Automobile Dealers Association What is down 12.9 percent are regular vehicles. The losses are pretty much across the board as far as the large OEMs go. Don't jump to conclusions at Honda, wait for the next table. Mini vehicle sales Japan January 2013 Manufacturer Jan '13 Jan '12 YoY YTD '13 YTD '12 YoY Suzuki 44,657 42,328 5.5% 44,657 42,328 5.5% Daihatsu 46,045 53,794 -14.4% 46,045 53,794 -14.4% Mitsubishi 4,973 7,347 -32.3% 4,973 7,347 -32.3% Subaru 3,705 8,755 -57.7% 3,705 8,755 -57.7% Honda 34,693 19,779 75.4% 34,693 19,779 75.4% Mazda 5,144 4,623 11.3% 5,144 4,623 11.3% Nissan 12,203 13,331 -8.5% 12,203 13,331 -8.5% Toyota 2,745 2,699 1.7% 2,745 2,699 1.7% Other 1 1 0.0% 1 1 0.0% Total 154,166 152,657 1.0% 154,166 152,657 1.0% Data courtesy Japan Mini Vehicles Association What is up by an astounding 1 percent are sales of mini vehicles, or kei cars. This segment had a surprising resurgence in Japan , and sales are still trending up, even when compared to a very high base in 2012. As you can see, Honda is shifting JDM sales massively to kei cars.  Their NBOX is a hit. Total vehicle sales Japan January 2013 Manufacturer Jan '13 Jan '12 YoY YTD '13 YTD '12 YoY Daihatsu 46,240 53,993 -14.4% 46,240 53,993 -14.4% Hino 2,319 2,358 -1.7% 2,319 2,358 -1.7% Honda 55,653 64,048 -13.1% 55,653 64,048 -13.1% Isuzu 3,095 3,444 -10.1% 3,095 3,444 -10.1% Lexus 3,564 3,158 12.9% 3,564 3,158 12.9% Mazda 17,779 17,485 1.7% 17,779 17,485 1.7% Mitsubishi 10,233 12,096 -15.4% 10,233 12,096 -15.4% Mitsubishi Fuso 1,617 2,008 -19.5% 1,617 2,008 -19.5% Nissan 56,413 52,981 6.5% 56,413 52,981 6.5% Subaru 13,792 14,672 -6.0% 13,792 14,672 -6.0% Suzuki 49,835 48,699 2.3% 49,835 48,699 2.3% Toyota 108,100 127,332 -15.1% 108,100 127,332 -15.1% UD Trucks 483 555 -13.0% 483 555 -13.0% Other 14,376 13,095 9.8% 14,376 13,095 9.8% Total 383,499 415,924 -7.8% 383,499 415,924 -7.8% This is the consolidated picture. For January.  Japans automaker believe that the Japanese domestic market will go down more than 10 percent in 2013 . In 2012, Japan had the best sales  since 2007. Japanese bought 5.57 million cars in 2012, up 27.5 percent. There won't be a repeat-performance this year. from The Truth About Cars http://www.thetruthaboutcars.com

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