The household expenditure on automotive maintenance and repairs in Japan is projected to increase gradually from 2024 to 2028, starting at 19.61 thousand Japanese Yens in 2024 and reaching 20.65 thousand Japanese Yens in 2028. This indicates a steady year-on-year growth, with variations of approximately 1.38% to 1.52% each year. Based on this growth pattern, the cumulative average growth rate (CAGR) over the five-year period is about 1.5% per year. As of the end of 2023, this expenditure stood notably lower, underlying the consistent upward trend.
Future trends to watch for include the increasing adoption of electric vehicles (EVs), which may alter maintenance patterns and costs, advancements in automotive technology leading to potentially higher repair costs, and changing consumer behaviors towards mobility solutions, which could impact overall household expenditures on vehicle maintenance and repairs.
