Used car sales fall 2.9% in Japan

Used car sales fall 2.9% in Jan - June

Domestic used vehicle sales fell 2.9 percent from a year before to 2.03 million units in the January-June period, industry data showed Wednesday.

Sales marked the first decline in two years for the first-half period, the Japan Automobile Dealers Association said.

The decline stemmed from a shortage of inventories in line with a decrease in new vehicle sales following the end of a government subsidy program for fuel-efficient cars in September, association officials said.

In addition, an increasing number of trade-in vehicles have been too old to be sold as used vehicles, the officials said.

SOURCE:

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