New Year's Greeting
Happy New Year!
I shall be pleased to extend my greetings in the beginning of the year 2010.
I would like to first celebrate the New Year together with every one of you, despite the very difficult market conditions that the members of our Association, who import motor vehicles from all over the world, as well as many of you, are currently facing.
The global concurrent recession which stemmed from the financial crisis in 2008 has been settled down thanks to the urgent stimulus packages and other steps taken by the governments of various countries. In fact, some countries, emerging economies in particular, are making steady recoveries.
Meanwhile, the auto industry, which has been hit severely on a global scale, is further pressed with demands to address environmental and energy challenges, and under these circumstances, vehicle manufacturers are now in a storm of realignment, again.
Against such backdrop, signs of recovery were seen in the motor vehicle market in Japan as new car sales, led by hybrid models, have picked up due to the penetration of the government stimulus, including the eco-car tax cuts and new vehicle subsidies. The imported car sector, however, is not fully enjoying the benefit of these programs since only a limited number of models qualify, and we are continuing to face very severe conditions in terms of sales results.
To overcome the status and aiming at market stimulation as well as true globalization, we are calling on the government to develop a system of auto-related taxes suitable to global products, such as the abolition of Automobile Acquisition and Tonnage Taxes, ideal status of auto-related taxes in the future and review of the eco-car tax schemes.
We believe that our broad offering of imported models with the attractiveness of the world’s renowned brands, as well as highly-reliable safety features and innovative environmental performances, will contribute to the globalization of the car market in Japan and growth of the overall economy, which we are determined to attain.
I thank you for your further understanding and continued support, and let me conclude my statement by wishing everyone a wonderful year in 2010.