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Kobe Trading – Japan Hybrid Vehicle

Kobe Trading - Japan Hybrid Vehicle

Japan’s 2012 passenger vehicle fuel economy guide is out (Japanese only), and for those interested in these matters it provides much food for thought. The most striking finding is that the fuel economy of new passenger vehicles in Japan improved approximately 8% between 2011 to 2012, from 19.5 to 21.1 km/L (10-15 mode) and 17.8 to 19.4 km/L (JC08 mode). Overall, fuel economy has improved by more than 70% since 1995, and has averaged 6% annually over the past five years (Figure 1). In aggregate Japanese automakers exceeded the 2015 standards in 2011, and are on track to beat the 2020 standards well before 2015 (blue diamonds). Chart, Japan new vehicle and fuel economy targets, 1995-2020 A good share of the fuel economy improvement can be attributed to the rise of hybrid electric vehicles in Japan, which hands down has the highest penetration of hybrids worldwide. Figure 2 shows the hybrid market share for new passenger vehicles in Japan from fiscal year 2005 to 2013 YTD. As the chart shows, hybrid market share jumped starting in 2009, when the Japanese government adopted aggressive new fiscal incentives for fuel efficient vehicles and the third generation Prius was introduced. Hybrids now account for more than 30% of the 2.9 million standard passenger vehicles sold and about 20% of the 4.5 million passenger vehicles including minicars. Today, almost 60% of new cars in Japan are either hybrids or minicars, with the fuel economy implications shown above. In comparison, the next highest hybrid penetration that we’ve seen around the world is in the 1.7-million-per-year California auto market, which has a 7% hybrid market share. Chart, Japan hybrid vehicle market share by FY, 2005–2013 This trend was driven in part by a suite of subsidies and tax breaks for advanced and low emitting vehicles. Subsidy programs covering hybrids were in effect between April 2009 and September 2010, and then again from April to September 2012 as a response to the 2011 Tohoku earthquake

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