Honda Leads Drop in Japan's Car Sales as Models Age
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[10/01/2007] Oct. 1 (Bloomberg) -- Honda Motor Co., Japan's second- largest carmaker, led a drop in domestic regular passenger car sales in September, as the impetus from revamped models introduced earlier this year waned.
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Oct. 1 (Bloomberg) -- Honda Motor Co., Japan's second- largest carmaker, led a drop in domestic regular passenger car sales in September, as the impetus from revamped models introduced earlier this year waned.
Sales of passenger cars excluding minicars fell 4.9 percent from a year earlier, the Japan Automobile Dealers Association said in a release today. Honda, with only one new model so far this year, reported an 18.4 percent decline in sales.
The drop resumes a two-year decline in demand for passenger vehicles in Japan. Carmakers have tried to arrest the slide with the introduction of models, including Mazda Motor Corp.'s Demio compact in July and Toyota Motor Corp.'s Noah and Voxy minivans in June.
``New models spark interest and sales but that quickly flickers out,'' said Takashi Aoki, who helps manage about 130 billion yen ($1.1 billion) at Mizuho Asset Management Co. in Tokyo. ``New models don't really seem to be reigniting the domestic market.''
Toyota, Japan's biggest carmaker, had a 4.3 percent drop in regular car sales and Nissan Motor Co., Japan's third-largest automaker, posted a drop of 9.5 percent.
Sales of Mazda's new Demio shot up to 7,087 cars in July when it was released from 5,376 vehicles in June. Sales fell back down to 4,939 models in August.
New Model Effect
``After about 3 months, the `new model' effect goes down,'' said Akihiko Imagawa, an auto sales analyst at CSM Worldwide in Tokyo. ``September had very little to spur sales.''
Shares of Toyota rose 0.4 percent to 6,810 yen at the close of trading on the Tokyo Stock Exchange. Honda shares were unchanged at 3,860 yen, and Nissan's shares rose 0.2 percent to 1,153 yen.
Toyota, based in central Japan's Aichi prefecture, added revamped versions in September of the Land Cruiser SUV and Mark X Zio minivan, the company's ninth new design so far this year. The company expects to boost domestic sales 1.8 percent to 1.72 million vehicles this year from 1.69 million.
Toyota's sales declined to 135,994 regular passenger cars. Sales of the carmaker's Lexus brand fell 0.1 percent, the first decline since Toyota introduced Lexus in Japan in August 2005.
Nissan's sales fell to 60,104 vehicles. The carmaker's profit dropped for the first time in seven years last year because of a lack of new models. It plans to introduce five models in Japan this fiscal year.
Crossroad SUV
Sales at Honda dropped to 37,261 vehicles, while at Mazda sales fell 5.4 percent to 20,919 vehicles.
Honda in February released the Crossroad sport-utility vehicle, its only new passenger car model so far this year. In mid-October the company will release a revamped Fit compact, the third-bestselling passenger car for the last five months. Mazda has introduced only one model this year, the Demio.
Vehicle sales including trucks and buses fell 9.5 percent to 328,363.
Sales of minicars fell 6.9 percent to 171,435 vehicles in September, the Japan Mini Vehicles Association said in a separate release today. Mini vehicles are powered by engines no larger than 0.66 liters.
Daihatsu Motor Co., Japan's largest minicar maker, sold 52,350 vehicles, an increase of 0.5 percent. Suzuki Motor Corp., maker of the best-selling Wagon R minicar, reported a 0.9 percent drop in sales to 48,073 vehicles. Sales of Nissan's minicars rose 54 percent to 14,012.
Sales of passenger cars excluding minicars fell 4.9 percent from a year earlier, the Japan Automobile Dealers Association said in a release today. Honda, with only one new model so far this year, reported an 18.4 percent decline in sales.
The drop resumes a two-year decline in demand for passenger vehicles in Japan. Carmakers have tried to arrest the slide with the introduction of models, including Mazda Motor Corp.'s Demio compact in July and Toyota Motor Corp.'s Noah and Voxy minivans in June.
``New models spark interest and sales but that quickly flickers out,'' said Takashi Aoki, who helps manage about 130 billion yen ($1.1 billion) at Mizuho Asset Management Co. in Tokyo. ``New models don't really seem to be reigniting the domestic market.''
Toyota, Japan's biggest carmaker, had a 4.3 percent drop in regular car sales and Nissan Motor Co., Japan's third-largest automaker, posted a drop of 9.5 percent.
Sales of Mazda's new Demio shot up to 7,087 cars in July when it was released from 5,376 vehicles in June. Sales fell back down to 4,939 models in August.
New Model Effect
``After about 3 months, the `new model' effect goes down,'' said Akihiko Imagawa, an auto sales analyst at CSM Worldwide in Tokyo. ``September had very little to spur sales.''
Shares of Toyota rose 0.4 percent to 6,810 yen at the close of trading on the Tokyo Stock Exchange. Honda shares were unchanged at 3,860 yen, and Nissan's shares rose 0.2 percent to 1,153 yen.
Toyota, based in central Japan's Aichi prefecture, added revamped versions in September of the Land Cruiser SUV and Mark X Zio minivan, the company's ninth new design so far this year. The company expects to boost domestic sales 1.8 percent to 1.72 million vehicles this year from 1.69 million.
Toyota's sales declined to 135,994 regular passenger cars. Sales of the carmaker's Lexus brand fell 0.1 percent, the first decline since Toyota introduced Lexus in Japan in August 2005.
Nissan's sales fell to 60,104 vehicles. The carmaker's profit dropped for the first time in seven years last year because of a lack of new models. It plans to introduce five models in Japan this fiscal year.
Crossroad SUV
Sales at Honda dropped to 37,261 vehicles, while at Mazda sales fell 5.4 percent to 20,919 vehicles.
Honda in February released the Crossroad sport-utility vehicle, its only new passenger car model so far this year. In mid-October the company will release a revamped Fit compact, the third-bestselling passenger car for the last five months. Mazda has introduced only one model this year, the Demio.
Vehicle sales including trucks and buses fell 9.5 percent to 328,363.
Sales of minicars fell 6.9 percent to 171,435 vehicles in September, the Japan Mini Vehicles Association said in a separate release today. Mini vehicles are powered by engines no larger than 0.66 liters.
Daihatsu Motor Co., Japan's largest minicar maker, sold 52,350 vehicles, an increase of 0.5 percent. Suzuki Motor Corp., maker of the best-selling Wagon R minicar, reported a 0.9 percent drop in sales to 48,073 vehicles. Sales of Nissan's minicars rose 54 percent to 14,012.
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