The recovery of automobiles in Japan has led to the recovery of not only auto parts but also a wide range of industries including steel, batteries, and transportation said Akio Toyoda, Chairman Japan Automobile Manufacturers Association (JAMA) in a recently held press conference.
He further said that despite the COVID-19 situation, several production and sales sites continued their businesses to meet domestic demand. Japan is currently following the motto “do not stop the business” which would help them reconstruct the important sectors from the ravages of the pandemic.
Domestic auto sales in Japan recovered in September, but the negative impact of the pandemic continues to pressure consumer spending. Sales have recovered by 90pc compared to the prior year. Japanese car sales dipped by over 40pc in May owing to COVID-19 lockdowns and in August Japanese car sales were down 15pc to 326,436 units from the prior year.
Recover in auto sales drove Japan’s steel production which rose 6pc in August, according to Japan Iron and Steel Federation.