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Market Chatter: Japan's New Car Sales Rise for Second Straight Year on New Models

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New vehicle sales in Japan grew 1.8% year over year in the first half to 2.39 million units, marking the second consecutive annual increase, Nikkei Asia reported on Thursday, citing Japan Light Motor Vehicle and Motorcycle Association data.

The better sales were driven by fresh model launches and the April abolition of an environmental-performance-based purchase tax, the news daily said.

Sales of standard vehicles, excluding minicars, rose 2.0% to 1.53 million units, accelerating after the tax repeal took effect, the publication said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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