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Minivehicles Gaining Ground in Japan
The popularity of hybrid vehicles in Japan surged in 2012, but minivehicles will gain market share this year, The Nikkei reports.
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The popularity of hybrid vehicles in Japan surged in 2012, but minivehicles will gain market share this year, The Nikkei reports. Minivehicles are powered by engines displacing 660 cc or less.
The newspaper cites a forecast by the Japan Automobile Manufacturers Assn. that minivehicles which reached an all-time high of 36.9% share of the country's total auto market in 2011 will set a fresh record with a 38% share this year.
Government incentives helped hybrids capture 19.7% of Japan's vehicle market last year compared with 12.9% in 2011, JAMA notes. Now that those subsidies have expired, the group says consumers are gravitating to low-cost, fuel-efficient minis.
JAMA expects minivehicle sales to drop 9% to 1.41 million vehicles in 2013 less than the overall market decline of 12% to 4.74 million units.
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