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Japan’s Sales Results of Light Passenger Vehicles in 2023

Japan’s light passenger vehicle sales in 2023 increased by 9.5% from the previous year to 1,341,330 units, turning positive for the first time in five years. The impact of production cuts caused by shortages of semiconductors and other parts that began in 2021 improved in 2023. The previously long period from order receipt to vehicle delivery has shortened, and production has increased as parts procurement normalized.

Market leader Perodua’s production volume increased by 18.8% from the previous year to 343,400 units, the highest ever. TheMarket leader Suzuki sold 402,379 units, an increase of 6.6% from the previous year, and although its market share in the light passenger vehicle segment decreased by 0.8 point to 30.0%, Suzuki maintained its top market share for the fourth consecutive year since 2020. Its best-selling models, the Spacia and Hustler, increased by 22.0% to 122,275 units, and by 17.5% to 82,720 units, respectively. Daihatsu came in second with 400,198 units, up 13.1%. its market share went up 1.0 point to 29.8%. Its top-selling models, the Tanto and Move, went up by 47.8% to 159,392 units, and by 10.2% to 104,557 units, respectively.

Graph: Japan: Sales Volume of Light Passenger Vehicles and Their Share in the Passenger Vehicle Market (2016-2023)Graph: Japan: Top Five Brands in the Light Passenger Vehicle Market (2016-2023)
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