Global vehicle sales by Japanese automakers dropped by 34% in March when the coronavirus outbreak spread worldwide, and are set to fall further in the months ahead as the crisis continues.
) and Japan’s four other major carmakers reported sales of around 1.82 million cars last month, down from around 2.77 million a year earlier.
Meanwhile Nissan sold 315,194 vehicles last month, a 43% drop from a year ago. In the year to March, its vehicle sales hit a nine-year low of around 4.8 million units as the pandemic piled pressure on Japan’s No. 2 automaker, which had already been struggling with falling sales and profitability. Chris Richter, senior research analyst at brokerage CLSA, expects that the size of last month’s fall in global vehicle sales will continue in the next year, and anticipates a 35% drop in sales for the current financial year ending March.
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