AutoBeta(AutoBeta.net)08/12 Report--

Affected by the global shortage of car chips and the epidemic, new car production in Japan has declined. Data show that in the first half of this year, the total global production of the eight major automakers, including Toyota, Suzuki, Honda, Nissan, Subaru, Mitsubishi and Mazda, was 11.5557 million vehicles, down 6.0% from the same period last year. Global total sales were 11.63 million, down 11.4% from the same period last year. Specific to the Japanese local market, the total output of the above-mentioned eight automakers in Japan was 3.42006 million, a decrease of 14.3% compared with the same period last year. The output of eight car companies was lower than that of the previous year, because the shortage of new cars in Japan also contributed to the popularity of second-hand car transactions. Some models have the phenomenon of new and old vehicle prices upside down.

According to a CCTV financial report, there are more than 20 used cars parked at a used car shop in Tokyo, Japan, of which a used car made in 2021 and has run more than 8000 kilometers costs about 120000 yuan, while in fact the new car only costs 101000 yuan. The price of a used car is 19000 yuan higher than that of a new car, but this has become a common phenomenon. According to the person in charge of the car shop in the store, it is not uncommon for used cars to be more expensive than new cars, and the price of some popular used cars is even more than twice that of new cars.

According to the CCTV financial report, the average transaction price of used cars in Japan has continued to rise recently, reaching a record high of 58000 yuan last month, up more than 25 per cent from the same period last year. The reasons for the rise in the country's used-car trade include a decline in the supply of used cars, limited production capacity for new cars and a sharp depreciation of the yen.

Data show that in July this year, the overall supply of cars in Japan's local market decreased by 10% compared with the same period last year, and some second-hand car dealers even reduced by 30%. Used cars usually enter the circulation market only after the original owners buy new cars, but due to the tight supply chain, the production capacity of new cars in Japan is limited and the delivery of new cars is delayed, thus pushing up the demand of Japanese consumers for used cars.

"Automotive Industry concern" believes that after entering 2022, although the global parts shortage, epidemic and Russia-Ukraine conflict and other uncertain factors still affect the global automobile industry, but the degree of impact on Japanese car companies is particularly obvious. Take Toyota as an example, Toyota's output in the first fiscal quarter was 1.94 million, down 11% from the same period last year, while sales were 2.01 million, down 6% from the same period last year. From intuitive data, both production and sales have declined to varying degrees, and sales are greater than production. As a result, the delivery of new cars in the Japanese market is delayed, and even if booked now, it will take half a year to pick up the car at the earliest. While some models even take as long as four years to mention new cars, in addition, a number of Japanese car companies, including Toyota and Nissan, are forced to suspend sales of many models because their existing production capacity is unable to meet the demand for orders. some sales stores have no cars to sell.

With the long delivery of new cars, some consumers are more willing to spend more money on used cars. In addition, the CCTV financial report pointed out that the sharp depreciation of the yen has made it relatively cost-effective for overseas consumers to buy used cars in Japan, and demand from overseas markets is also increasing. Among them, British exports nearly tripled in the first half of this year compared with the same period last year, and overseas demand competed with Japan's domestic demand, further pushing up the trading prices of used cars in Japan in the face of overall supply shortages.

Industry forecasts, the rise in used car prices are likely to be difficult to ease within nearly a year, under the premise of inflation, Japanese consumers will also face new pressure.

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat