Japanese vehicle exports grow over 16 percent during April
Japanese vehicle exports, including passenger vehicles, trucks, and buses, improved 16.2% year on year (y/y) to 432,137 units in April. According to figures released by the Japan Automobile Manufacturers' Association (JAMA), exports of passenger cars and trucks grew 17.5% y/y to 392,921 units and 6% y/y to 29,268 units while shipments of buses declined 2.4% y/y to 9,948 units. Regionally, shipments to North America, the largest overseas destination for Japanese-made vehicles, surged 21.4% y/y to 183,613 units. North America was followed by Europe with 80,601 units (up 12.8% y/y), Asia with 53,294 units (up 11.8% y/y), and Oceania with 41,273 units (up 12.3% y/y). Shipments to Middle East totalled 35,915 units (up 20.3% y/y), followed by Central America with 13,702 units (down 12.2% y/y), South America with 12,582 units (up 34% y/y), and Africa with 10,253 units (up 10% y/y).
Significance: Japanese vehicle exports grew for a sixth month in a row in April. Exports to the key market of United States grew 19.5% y/y to 158,514 units during April, marking a third consecutive month of growth. Growth came from strong demand for sport utility vehicles (SUVs). Meanwhile, shipments to Asia witnessed a seventh consecutive month of growth in April, including mainly China with 18,410 units (up 9.3% y/y). European shipments were in the positive territory for a first time in two months during April, while Latin American volumes were up for the first time in four months. Overall, April represented growth to Japanese exports across all key regions.
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