Japan automakers post 12% slide in July global vehicle sales
28/08/2020 07:00
TOKYO, Aug 28 (Reuters) - Global sales at Japanese
automakers slipped 12.2% in July from last year, the fifth
straight month of losses, as demand for cars remains sluggish
after factories and dealerships reopened following
coronavirus-related lockdowns earlier this year.
The country's seven major automakers, including Toyota Motor
Corp 7203.T and Nissan Motor Co 7201.T , sold a combined 2.01
million vehicles last month, according to Reuters calculations
based on sales data released by the companies on Friday.
The decline in monthly sales has slowed significantly since
a 50% drop posted in April, and compared with a 21.3% fall in
June. Sales in China increased on the year for most automakers,
while Toyota, the country's biggest automaker, also saw growth
in Europe.
Total global production at Japan's seven major automakers
fell 14.4% year-on-year to 1.99 million units last month,
improving from a 26.1% tumble in June.
Global demand for cars has been weak since March due to
virus-related stay-at-home orders in many countries, which led
to a drop in visits to car dealerships and potential customers
also reconsidered big purchases.
Many countries have been easing the lockdown restrictions,
but industry experts anticipate that it could take up to five
years for demand to recover to 2019 levels.
(Reporting by Naomi Tajitsu; Editing by Shailesh Kuber)
((naomi.tajitsu@thomsonreuters.com; +81364411078; Reuters
Messaging: naomi.tajitsu.thomsonreuters.com@reuters.net))