Vehicle sales in Japan rose by 28.3 percent in October from a year earlier to 247,927 vehicles, figures from Japan Automobile Dealers Association showed Tuesday.
This is the second consecutive month when the Japan Automobile Dealers Association announce increases in vehicle sales, after a sharp decline in August.
Sales at Toyota Motor Corp. , without the Lexus brand, rose 20.4 percent, while Nissan Motor Co increased 32.5 percent and Honda Motor Co gained 19.5 percent.
Honda, the most affected Japanese automaker by Thailand’s floods withdrew its annual earnings guidance on Monday.
Mitsubishi Motors recorded an increase of 62.5 percent compared to 2010 – to 4,063 vehicles.
However, Thai floods may have a huge impact over the automotive sales for the upcoming months.
“The timing of the Thai floods couldn’t have been worse,” said Vivek Vaidya, automotive and transportation director at research firm Frost & Sullivan in Singapore.
Honda Motor Co., which made about 5 percent of all its cars in Thailand last year, last week, said its factories may be flooded until mid-December resulting in a huge loss in production.
The company suspended production at Honda Automobile (Thailand) Co. Ltd., on Oct. 4 and flood waters inundated the plant four days later.
The launch of the 2012 Honda CR-V could also be delayed “slightly”.
Toyota Motor Corp’s Indonesia operations vice president Johnny Darmawan said,
“Toyota Motor Corporation (NYSE:TM) is still looking for other component suppliers outside Thailand.
The automaker could lose 5 percent of the planned production on the upcoming month.