Japan Used Car Sales Figure 2017: Cars have become one of the important necessity in everyone’s life, it signifies the comfort and status. But sometimes it’s not all easy to own your desired car, it may be not possible because of high price of a new car. So, people have option to fulfill their wishes by purchasing Japan used car of their desired brand and model at their affordable price.
Nowadays, purchasing a used car has become so popular that the market of resale of used car is booming day by day, Over the last few years, the used car market has demonstrated a significant growth in value contributing the larger share of the overall market value.
In 2017, around 1.5 million used cars were exported from Japan, up 1.8 percent from the previous year. On the other hand, new vehicle sales fell worldwide. While both markets show strong buying conditions, we can see the used car sales statistics going in a better direction.
Why used cars are in demand?
Owing to the fact that the new cars are higher in price when compared to the same car available as used one. Also when it comes to the Japanese used cars, you can always trust the quality and condition of the cars due to strict inspections and standards followed in Japan. All buyers are not able to afford the new cars prompting then to resort to the alternative market. Shoppers saw the opportunity to get the best value for their money by buying used vehicles that are relatively new.
Other reasons are:
- One can save money by buying a used car
- Lower depreciation
- Increase your option
- Potentially lower insurance costs
- Vehicles history reports make Japan used cars purchase less risky
Auction sales rose in 2017:
According to the National Auto Auction Association (NAAA) reported that the member auction sales rose to an estimated number of 10 million vehicles in 2017. There was an increase in commercial consignment due to several factors, including the following:
- Strong retail activity
- Growth in leasing from the preceding years
- High record levels of auto loans outstanding
- Increase in business fleet purchases
If we look, 2017 was the year ruled by traditional auctions. Most of the buyers prefer to buy used cars from traditional auction but experts predict that non-traditional channels will take over this 2018. They foresee that wholesale volumes through traditional auctions will almost break records, nearly reaching or exceeding 10 million units. On the other hand, we can expect to see increases in off-site digital auction sales volumes. After all, more and more people are starting to find online Japanese car auctions quite reliable.
Top Japan used car export markets in 2017 are:
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What is trending in Global market of used car?
According to a international research, they learned from their research that certain trends in the global market have altered the used car sales statistics in the past year. Here are some of the trends they observed:
Better Quality and Durability of Vehicles:
Over the years, vehicles launched in the global market proved to have longer lives, the lifespan improvement resulted in a growing used car market. They were also made to be durable, reducing the potential for taking the vehicle to a dealership auto shop during its first several years. For instance, Japanese used vehicles older than even 10 years are being exported in many countries and are in goo demand. This gives used car dealers worldwide opportunity to sell the used cars from Japan and gain good profit.
The Information is available on the Internet:
Consumers across all markets have the opportunity to access automotive materials online. They can get dealer invoice prices, vehicle history reports, and many other vital information about used cars. Consumers from the new vehicle market can now make more informed decisions and see the benefits of buying second-hand cars. Used vehicle buyers are also becoming more knowledgeable and skilled at assessing the value of a second-hand vehicle. They are able to shop around for a reasonable price in a competitive automotive market.
Be Part of the Growing Used Car Market:
The common misconception about used cars is that consumers can’t actually save money from them because they have to spend more on repairs. This is no longer absolutely true in this digital age. These days, you can buy from a Japan car auction online and get full history reports of the vehicles. In this way, you know exactly what you are getting.
Over all view:
No doubt, used car market has occupied a tremendous space globally and we can conclude that the two main key factors are:
The First One is low and affordable price of used cars, as we all know at the end of the day money matters. This is why, people opt for used vehicles as compared to new ones.
The Second factor is that despite the increasing average car value of a used unit, the volume sales aren’t slowing. The number of used vehicles export have been growing for lat 3 years which is a good sign for the used car export market in Japan. Though there are certain markets that restrict the imports but on at same time there are new ones opening up for the used cars import from Japan.