Motor vehicle production value in Japan 2014-2023
In 2023, the production value of motor vehicles by the automotive industry in Japan amounted to approximately 25.64 trillion Japanese yen, increasing from around 19.29 trillion yen in the previous year. This was a large improvement compared to the previous year and a decade high result. In that year, the total production volume of the automobile industry amounted to approximately nine million vehicles. The automotive industry is one of the main pillars of Japan's economy, as it generates tremendous revenue and is a major workplace provider.
Imports and exports
Japan is one of the largest automobile exporters in the world. The value of automobile exports comprised more than half of the total production value. The central position of exports in the automobile industry was also reflected in the number of exported cars, which was nearly as high as the number of newly registered vehicles in Japan. The largest overseas markets included North America, Asia, and the European Union.
Imports, on the other hand, are comparatively minor. The number of imported cars was at a fraction of the number of exported cars. German car brands were the most successful foreign cars in Japan’s automobile market.
Used vehicle market
Currently, around 78.8 million automobiles are in use in Japan. This includes passenger cars, trucks, and buses. The vast majority of automobiles possessed are used vehicles. Hence, the used vehicle market is gigantic. For instance, the revenue generated by the motor vehicle repair and maintenance service industry segment amounted to several trillion Japanese yen. The other major segment included the sales of used cars, which also generated revenue worth a few trillion yen.