Japanese marques suffer global slump

Japanese carmakers saw sales worldwide drop 21.3 per cent in June, when compared to the same month a year ago.

It was the fourth straight month of double-digit falls in trading as the impact of closing factories and dealerships to help contain the spread of the coronavirus pandemic took its toll.

The country’s seven major marques, including Toyota and Nissan, sold a combined 1.88 million vehicles in June this year, down from 2.39m units in the same month of 2019 earlier, reports Reuters.

Despite the latest drop in monthly sales, the rate of decline is easing since a 50 per cent tumble in April and a 38 per cent fall in May.

Production by the carmakers worldwide also decreased in June by 26.1 per cent from a year ago to 1.65m units.

Industry experts warn it may take up to five years for the global demand for vehicles to recover to 2019 levels.