Pre-owned cars in Japan fell by more than 40%

Pre-owned cars in Japan fell by more than 40%

June 30, 2020 0 By autotimesnews

The cost of used cars in the Japanese car market fell by 40%. This is due to an outbreak of coronavirus.

According to analysts at Kobunsha Co. Ltd, the cost of used cars in Japan collapsed by 40%. So, the cost of some models popular on the secondary market in May equaled the prices of February, while other models lost up to half of the pre-coronavirus cost.

“In some cities, we were forced to close our stores due to the influence of the coronavirus. It was especially hard in March and April. A significant drop in the export of used cars has deepened the fall in prices. Dealers rewrote the price tags “down” – just to unload the site and get real money. Prices for 3 million yen category cars fell to 2 million yen, ”said one industry representative.

It is worth noting that car exports from Japan fell sharply in April – immediately by 50.8% compared to April 2019. Most of all this was reflected in the directions of Russia and the UAE. True, in June, prices for used cars in Japan gradually began to recover. But until the end of June it will still be possible to buy a used car at a big discount.

Note that used Lexus IS prices fell 40.2%, while Toyota Vitz fell 44.5%. This is the most favorable time for acquiring a right-hand drive car from the country of the Rising Sun, as the Russian authorities temporarily postponed the adoption of a number of innovations regarding right-hand drive cars