Used vehicles registrations, excluding 660cc engine minivehicles, totaled 4.26 million units in fiscal year ended March 2009, down 4.26% on the year. The figure marked the lowest level since fiscal 1985.
The FY2008 results marked a third consecutive years of decline. Because fewer people are buying new cars and trading in their existing vehicles, there has been a shortage of high-quality used cars. This is cited as a major reason behind the weak used car sales.
Sales of used passenger cars dropped 5.1% to 3.64 million units. Sales of used trucks dipped 0.2% to 506,373 units overall, but sales of trucks with loading capacities of tons or more rose 5.2% to 226,770 units.
According to the Japan Automobile Dealers Association (JADA), used vehicle registrations in March declined 0.8% on the year to 546,395 units, slipping for a second straight month.
The association has not released its projection for fiscal 2009, saying that used vehicle sales will depend on government sales promotion policies, such as subsidies for people scrapping their current cars and buying new or used ones.
Used vehicle sales declined 0.8% to 546.395 units in March.
The March total was made up of 215,249 midsize & large-size cars, off 1.4%, 263,165 small cars. down 1.5%, 23,128 heavy- and medium-duty trucks, up 8.1%, 32,246 light trucks, up 3.8%, 1,744 buses, up 3.2%, 10,188 special purpose vehicles, down 3.2%, and 668 heavy special purpose vehicles, up 2.9% year on year.
