Export to Russia, price change key
Reports of rising used car prices continued until February. It hit the highest price in February.
The reason was a shortage of semiconductors. The supply and demand is tight in the used car market. In February, the average unit price of used cars increased by 20.1% from the same month of the previous year to 16,000 yen (USS, the largest used car auction company). This is the first time that the average transaction price has exceeded 1 million yen.
I wrote that the reason was the lack of semiconductors because the situation changed from the end of February to two weeks.
According to Youst Cardotcom, used car prices themselves have fallen by 5%.
The “Manheim US Used Car Price Index” reported by Manheim in the US shows the trend of used car prices in the United States.
Even if you look at this, it has fallen 3.8% from February in the 15 days since the beginning of March. Prices fell in all major segments except vans, with SUVs falling the most.
Let’s get back to Japan.
According to a summary by the Japan Used Car Export Industry Cooperative (Chairman Hiroshi Sato), the number of used cars exported in 2021 will exceed 1.2 million units for the first time in two years.
Sorting the number of used car exports compiled by the Japan Used Car Export Industry Cooperative by destination country, Russia ranked first for nine consecutive months. United Arab Emirates and Mongolia follow.
Due to economic sanctions, as of February, the dispatch of used cars to Russia has been suspended. Exports to Russia have stopped.
Exporters to Russia are seen to relist and cash out successful bidders waiting to be shipped.
It is closely related to the decline in used car prices.
In the future, used car prices will fluctuate depending on Russia’s invasion of Ukraine. AUTOCAR will continue to report.
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