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Delhi, New Delhi, India, 2006/12/06 - In Japan, mini vehicles’ annual sales are likely to top two Million units for the 1st time this year (2006), as per the Mini Vehicles Association of Japan..
According to the Mini Vehicles Association of Japan, mini vehicles’ sales during Jan-Oct 2006, was valued at 1,703,184, representing a 4.4% up compared to the same period last year (2005). For the month of October alone, sales totaled at 147,848 units, which was 1.2% up from previous year. That was a rise for a consecutive tenth month.
There’s a strong likelihood of mini vehicles’ sales topping the 2 Million mark by the end of the year 2006, as new vehicles are lined up to hit the market, said an official at the Association.
Mini vehicles, with up to 660cc engines, are popular amongst consumers owing to their lower costs of maintenance and engine efficiency. In contrast to the popularity of mini vehicles, domestic sales were sluggish in new motor vehicles segment, exclusive of mini vehicles. Sales of vehicles (that excluded mini vehicles) in Oct 2006 slid 6.2%, as compared to last year, to 263,882 units.
As per a Research Analyst’s view at RNCOS, who has recently researched a report named "Asian Automotive Industry (2007)", Preferential tax & taxes treatment for the owners of mini vehicle are also the factors that are attracting consumers. For mini vehicles the auto tax are very cheap at just Y7, 200 (US$A79.47), compared to Y39, 500 (US$A435.98) for vehicles that have engines of under 2,000cc.”
This research report on “Asian Automotive Industry (2007)” also addresses some interesting issues for today’s Global business environment.
- Get an insight into trends in market performance
- Pinpoint the growth sectors and identify factors driving change
- Key Strategies
- Identify market and brand leaders and understand the competitive environment
- Major driving forces for Asian automotive industry
- Opportunities as well as challenges that exist for investors and businesses in this sector
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