Japan: Domestic orders for automobiles rise by 10% in Nov'22

Domestic orders for automobiles rose by 9.7% y-o-y to 5,15,000 tonnes (t) in November 2022 for the fourth consecutive month, according to latest data released by the Japan Steel Association.

Order volume remained at a low level compared to the pre-Covid period, due to the supply chain disruption, but has recovered since summer as the supply chain has normalised.

Orders for automobiles were 740,000 t in August, 650,000 t in September, and 550,000 t in October. However, sales remained in the 500,000 t range in November, but maintained an uptrend compared to the same month of the preceding year.

Domestic orders from the manufacturing industry decreased 6.0% y-o-y to 2903000 t, the 15th consecutive month of decline.

Sales to the manufacturing industry declined by 2.3% to 1.16 million tonnes (mnt), due to sluggish growth in industrial and electrical machineries, although the automobile sector showed a recovery trend. Moreover, in the construction segment orders dipped by 8.7%.

Domestic and exports orders

The volume of export orders dropped 11.1% y-o-y to 1,566,000 t in November. Meanwhile, the orders for domestic and exports combined were 4,469,000 t for the same period, down by 8.9% y-o-y.

Note: This article has been written in accordance with an article exchange agreement between Japan Metal Daily and SteelMint.