Japan sales fall 11% in April [Yahoo! Finance]
Toyota Motor Corporation (TM)
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Source: Yahoo! Finance
The market had been in sharp decline since Daihatsu was ordered at the end of December to halt production after an investigation found it had falsified safety test results over a period of decades. This also affected sales of models shared with other brands including Toyota, Mazda and Subaru. After resuming production in February of some models found not to have been affected by the malpractice, the automaker earlier this month was allowed to resume full production at all of its domestic plants. The market was expected to rebound in coming months as a result. Bank of Japan last month ended its negative interest rate policy with household spending expected to pick up following recent wage hikes across the country. The economy was estimated to have expanded by just 0.5% in the first quarter with growth forecast to accelerate in the second. Overall vehicle sales in Japan fell 17% to 1,441,486 units in the first four months of 2024 after growing 16% to 1,731,150 in the same period
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