Forecast: New Vehicles Registrations in Japan

The forecast for new vehicle registrations in Japan shows a consistent downward trend from 2024 to 2028. In 2024, registrations are projected at 4.7423 million, declining to 4.6019 million by 2028. Compared to 2023, where registrations stood at 4.78 million, this represents a year-on-year decrease of approximately 0.79% in 2024. The average compound annual growth rate (CAGR) over the next five years is projected to be a decrease of around 0.71% per year.

Future trends to watch for include the accelerating shift towards electric and hybrid vehicles driven by regulatory pressure and consumer preferences, advancements in autonomous driving technology, and evolving urban mobility solutions. These factors could potentially alter the trajectory of new vehicle registrations in Japan.