Domestic Sales Results of Japanese Commercial Vehicle Manufacturers in 2022

In 2022, the total sales volume of commercial vehicles by Japan’s four domestic commercial vehicle manufacturers (Hino Motors, Isuzu Motors, Mitsubishi Fuso Truck and Bus and UD Trucks) decreased by 24.4% from the previous year to 124,296 units. Sales fell for the third consecutive year due to the impact of semiconductor shortages and the decline in Hino’s sales triggered by fraudulent emissions and fuel economy data which was admitted by the company in a report released in March 2022. Sales of light trucks, and medium and heavy trucks declined double digits, the former going down18.7% to 62,900 units and the latter dropping 33.3% to 55,875 units. On the other hand, bus sales surged 69.1% to 5,480 units. In addition, the combined monthly sales volume of the four companies fell below the same month of the previous year in all 12 months. However, the rate of decline narrowed in the last third of the year thanks to positive sales results of Isuzu and Fuso from October onwards.