Japan: Passenger Car Market 2024

Passenger Car Market Size in Japan

The Japanese passenger car market contracted markedly to $X in 2023, declining by X% against the previous year. Over the period under review, consumption showed a perceptible setback. As a result, consumption attained the peak level of $X. From 2021 to 2023, the growth of the market remained at a somewhat lower figure.

Passenger Car Production in Japan

In value terms, passenger car production amounted to $X in 2023 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

Passenger Car Exports

Exports from Japan

Passenger car exports from Japan soared to X units in 2023, jumping by X% on 2022 figures. Over the period under review, exports recorded a relatively flat trend pattern. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

In value terms, passenger car exports soared to $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for passenger car exports from Japan, accounting for a X% share of total exports. Moreover, passenger car exports to the United States exceeded the volume sent to the second major destination, Australia (X units), fourfold. The third position in this ranking was held by China (X units), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and China (X% per year).

In value terms, the United States ($X) remains the key foreign market for passenger cars exports from Japan, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports. It was followed by Australia, with a X% share.

From 2012 to 2023, the average annual growth rate of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Australia (X% per year).

Export Prices by Country

The average passenger car export price stood at $X per unit in 2023, picking up by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of X%. The export price peaked in 2023 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Chile ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Imports

Imports into Japan

In 2023, approx. X units of passenger cars were imported into Japan; picking up by X% on the previous year. Over the period under review, imports, however, recorded a relatively flat trend pattern. Imports peaked at X units in 2018; however, from 2019 to 2023, imports remained at a lower figure.

In value terms, passenger car imports soared to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2023, Germany (X units) constituted the largest passenger car supplier to Japan, accounting for a X% share of total imports. Moreover, passenger car imports from Germany exceeded the figures recorded by the second-largest supplier, Thailand (X units), twofold. The UK (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from Germany amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and the UK (X% per year).

In value terms, Germany ($X) constituted the largest supplier of passenger cars to Japan, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with an X% share of total imports. It was followed by the UK, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Germany totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and the UK (X% per year).

Import Prices by Country

In 2023, the average passenger car import price amounted to $X per unit, growing by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2016 when the average import price increased by X%. The import price peaked in 2023 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform