Sales of new minicars in 1999 jumped 21.2 percent from the previous year to 1.88 million units, the highest annual figure since the Japan Mini Vehicles Association started taking statistics in 1967, the association said Tuesday.
The sales of 1.88 million units in 1999 was also the first increase in four years, according to the association. The boom was triggered by the introduction of lower tax rates for minicars in fall 1998. For 1999, passenger car sales hit 1.24 million units -- also a record -- up 30.5 percent from 1998, while sales of commercial vehicles increased 6.7 percent to 644,408 units, the association said.
By automaker, Suzuki Motor Co. sold 579,354 units, up 16.7 percent from the previous year, maintaining its position as the top minicar maker with a 30.8 percent market share. Daihatsu Motor Co., an affiliate of Toyota Motor Corp., followed Suzuki Motor with sales of 506,966 units, up 28.9 percent from 1998, with a 27 percent market share. Honda Motor Co. sold 289,407 units, up 30.4 percent from a year earlier, and captured a 15.4 percent market share, surpassing Mitsubishi Motors Corp., which sold 273,412 units, up 12.2 percent, with a 14.5 percent market share.
Fuji Heavy Industries Ltd., known for the Subaru brand, sold 178,518 units, up 18.7 percent, with a 9.5 percent market share. Mazda Motor Corp. followed Fuji Heavy Industries with sales of 45,828 units, up 19.6 percent from the previous year, with a 2.4 percent market share.
The association anticipates a slowdown in minicar sales in 2000, predicting sales of 1.8 million units, down 4.3 percent from 1999. In December, the monthly sales of mini vehicles increased two percent on a year-on-year basis to 147,655 units, according to the association.