Japanese auto industry faces decline amid production and sales challenges in H1

The Japanese automobile industry experienced a significant downturn in the first half of 2024 due to the economic slowdown and a fraud scandal involving major automakers.

According to data from the Japan Automobile Manufacturers Association (JAMA), the sector, which includes passenger cars, trucks, and buses, saw a 10% decrease in production, totaling 3.89 million units from January to June 2024. In June alone, production fell by 9.5% to 691,286 units y-o-y. Continue Reading? Please click box below!