TOKYO, Apr 13 (NNN-NHK) – Japan’s used automobile sales, excluding mini-vehicles, hit their lowest level in the fiscal year of 2022, since records began in fiscal 1978, industry data showed.
Used auto sales from Apr, 2021 to Mar, 2022, fell 4.7 percent from the previous fiscal year to 3,475,232 units, down for the second consecutive year, according to data released by the Japan Automobile Dealers Association yesterday.
The association reported that in Mar alone, 377,383 second-hand units changed ownership, down by 0.7 percent from the same period in the previous year, the falling pace of which slowed for the third straight month.
For nearly two years, Japanese automakers have been cutting output due to the global semiconductor shortage, leading to a decrease in the number of used cars on the market, causing prices to rise and sales to decline.
Market watchers here are pinning hope on sales improvement in the used car market, as the global chip shortage eases and new vehicle production continues to recover.– NNN-NHK
