The pace of decline in Japan's used passenger car sales has slowed for a third straight month. This comes amid an uptick in new vehicle production.
The Japan Automobile Dealers Association says 377,383 second-hand units changed ownership in March. That's down only 0.7 percent from a year earlier.
Japan's used car market has been slumping for about two years. The global semiconductor shortage prompted automakers to cut output. Fewer used cars were on the market as a result, causing an increase in prices and a drop in sales.
But new vehicle production is now recovering as the chip shortage has eased. This means more second-hand cars are for sale.
The Japan Automobile Dealers Association says 377,383 second-hand units changed ownership in March. That's down only 0.7 percent from a year earlier.
Japan's used car market has been slumping for about two years. The global semiconductor shortage prompted automakers to cut output. Fewer used cars were on the market as a result, causing an increase in prices and a drop in sales.
But new vehicle production is now recovering as the chip shortage has eased. This means more second-hand cars are for sale.
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Summary
Used car sales in Japan have slowed down for the third consecutive month, with a decrease of only 0.7% compared to last year. This follows an uptick in new vehicle production. The used car market has been declining for approximately two years due to the global semiconductor shortage, leading to
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ID: 893d1cda-bf4f-4c9e-afa2-96d60fa977be
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20230412_32/
Date: April 12, 2023
Created: 2023/04/13 07:18
Updated: 2025/12/09 05:05
Last Read: 2023/04/13 07:26