Japan New car sales february 2012

Automotive Dealer - Japan New car sales february 2012 ; Japan’s auto sales surged again last month as the government’s latest subsidy program sparked demand for fuel-efficient cars. Backlogs from last year’s earthquake added momentum.

Sales rose to 333,213 vehicles, up 32% from a year earlier, the Japan Automobile Dealers Association said Thursday. It was the sixth consecutive increase. The figures exclude sales of minivehicles.

The growth was slower than the 41% logged in January. But it was too early to determine whether the subsidies effect has peaked, an association spokesman said. During a previous subsidy program, sales picked up toward the end of its term, he said.

The government will start accepting applications for subsidies of ¥70,000 or ¥100,000, roughly $850 or $1,200, per vehicle in April. People buying fuel-efficient cars from Dec. 20 of last year through next January will be eligible to apply. The ¥300 billion incentive package will end as soon as its budget runs out.

Another industry group, the Japan Automobile Manufacturers Association, projects that auto sales, including those of minivehicles, will rise 19% to 5.02 million vehicles this year as the subsidies spark sales of fuel-efficient vehicles.

Japanese car makers are struggling with the yen’s continued strength, though the currency has weakened slightly over the past few weeks. An upturn in sales at home is vital to support profits in Japan’s car industry after coming under pressure from natural disasters in Japan and Thailand last year.

Toyota Motor Corp. and Honda Motor Co., in particular, have reported strong growth, driven by new fuel-efficient hybrid and small models.

Sales at Toyota, Japan’s biggest car maker by volume, surged 38% last month to 158,877 vehicles amid brisk orders for its new Aqua small hybrid. Sales of Toyota’s upscale Lexus brand rose just 2.3% to 3,554 vehicles.

Honda, the country’s third-biggest car maker, with a lineup that includes hybrid versions of the Fit compact car and the Freed minivan, reported that sales jumped 47% to 50,440 vehicles.

Sales at No. 2 Nissan Motor Co., which hasn’t unveiled new compact or hybrid models recently, rose 26% to 55,679 vehicles.

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