Toyota Expects Tokyo Olympics Buildup to Spur Demand
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Toyota Motor Corp., Japan’s biggest carmaker, expects the nation’s economic recovery boosted by the buildup to the 2020 Tokyo Olympics will help domestic vehicle demand weather a planned sales tax increase in April.
The business environment should be “sunny after cloudy,” Akio Toyoda, president of Asia’s biggest carmaker, said yesterday in Tokyo. “Along with the three arrows, there is now a fourth arrow, which is the Tokyo Olympics. There will be some impact from the sales tax increase, but it should be limited, and at most, last about three months.”