Tokyo: Used car registrations in Japan fell 6.3 per cent in 2022 from the previous year to 3,495,305 units, the lowest level on record since 1978, the Japan Automobile Dealers Association (JADA) said.
Registrations have been on the decline for the third consecutive year, affected by production constraints, including an ongoing semiconductor shortage, as well as an 8.3-per cent fall in domestic new auto sales last year, according to the JADA data published on Tuesday.
Breaking down the vehicle type, registrations of used passenger cars were down 6.4 per cent at 3,039,126 units, while second hand freight vehicles decreased by 6.1 per cent to 369,179 units, Xinhua news agency reported.
Prices for used automobiles have hiked amid a rise in demand since delivery times for new vehicles have been prolonged as the automotive parts crunch persists.
–IANS