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Japan Used Car Market Impacted from Russia-Ukraine War and Soaring Prices
Japan used car market has witnessed a positive double-digit growth in 2021 as compared to a year ago.
By: Makreo Research and Consulting
Impact of COVID-19 over Japan Used Car Market: Due to the decline in production of the new cars, there has been an indirect impact on the second hand car sales in Japan. The worldwide supply chain disruptions had a greater impact on the new car sales led by the shutdown of manufacturing facilities during the height of mobility restrictions in April/May 2020. Along with other factors (such as the magnesium shortage in Japan that is harming aluminium production, a crucial component for vehicle manufacturing)
Increasing Online Platforms in Used car industry in Japan
Owing the rapid growth of internet channels in the sector, used car market in Japan is expanding. As companies attempt to improve customer experience and brand recognition, online used-car trading platforms in Japan are increasingly investing in physical retail stores to gain from omni presence and contributing to the growth of Japan used car market.
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