Friday 20th April 1956
The third Toyko Motor Show opened. Vehicles were exhibited by type, and the center of popularity shifted to passenger cars. These characteristics indicated the birth of a full-scale motor show. Behind this trend was the “people s car plan” announced by the Ministry of International Trade and Industry (MITI) in May of 1955. The plan envisaged a 4passenger car capable of driving 100Km/h, wholesaling for ¥150,000 and retailing for ¥250,000. This was completely unrealistic given that average per capita national income was ¥75,960 and car prices at the time were: Datsun Sedan ¥750,000, Renault ¥740,000, and Toyota Crown ¥950,000. Still, the MITI plan spurred automakers to strive to cut prices.