ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -In most cases, specialization leads to an increase in productivity, which increases the overall economic output. When Japan puts its resources in producing electronics and automobiles, the country is said to be under specialization.

Detailed explanation-2: -With a long history in the automotive industry(5), Japan’s car manufacturers come with a trademark of trust. As well as being made from high-quality material, Japanese cars are more affordable to purchase and maintain thanks to their fuel efficiency.

Detailed explanation-3: -The country is home to a number of companies that produce cars, construction vehicles, motorcycles, ATVs, and engines. Japanese automotive manufacturers include Toyota, Honda, Daihatsu, Nissan, Suzuki, Mazda, Mitsubishi, Subaru, Isuzu, Hino, Kawasaki, Yamaha, and Mitsuoka.

Detailed explanation-4: -Sales volume of leading car brands in Japan 2022. In 2022, Toyota was the leading car manufacturer in Japan, selling around 1.25 million vehicles domestically. Despite a decrease of 12.1 percent compared to the previous year, Toyota reported more than twice as many unit sales as the runner-up.

Detailed explanation-5: -Daihatsu Motor Co., Ltd. is the oldest Japanese car manufacturer, mostly known for its range of smaller models and off-road vehicles. Daihatsu Motors has also manufactured select Scion vehicles for Toyota in the US market since 2002.