In Japan, the demand for used cars has fallen sharply

In the car market in Japan, there is a significant decline in demand for used cars. Importers refuse orders for the purchase of Japanese cars. Their main buyers have traditionally been Russians. However, due to the growth of the exchange rate, it became unprofitable to purchase Japanese used cars. In addition, the prices for such vehicles have risen at auctions in Japan due to higher fuel prices, as well as an increase in the cost of shipping. Currently, about 70% of all used cars in Japan offered at auctions remain unsold. According to available information, prices for Japanese cars rose in Russia by about 15% in March. Russian experts note that under the current conditions, the import of Japanese used cars to the country’s market is not advisable. For this reason, participants in the car market in Russia stop purchasing them. Last year, the customs service in Vladivostok cleared 114,000 cars from Japan, which is 30% more than in the previous year.

Source: xCritical.com