Effects of Japanese quake lead JAMA to downgrade auto sales forecast for 2011
The organisation says that demand for passenger cars and commercial vehicles during Q2 and Q3 of 2011 declined as a result of supply shortages in the wake of the March 11 disaster.
As a result, total demand for passenger cars and commercial vehicles in 2011 has been revised to 4.25 million units, down 14.2% from the previous year.
Looking at passenger cars specifically, JAMA says that total demand is projected to decline 15% to 3.58 million cars compared to 2010 despite the firmly-established demand for eco-friendly cars and a return to normal levels of market supply in the latter part of the year.
Overall demand for trucks in 2011 is forecast to fall 9.7% from the previous year’s level even though Japan’s post-new long-term regulations on heavy-duty truck emissions had been expected to generate vehicle replacement demand in 2011, and despite the anticipation that post-quake reconstruction activities will trigger a year-on-year increase in demand for standard and small-size trucks beginning in Q4.