November data show Japan’s used-car market tilting to exports: new sales lag, auction prices up 9.6%, volumes near 1.7m. Who wins as margins tighten in 2025?
2025-12-27T15:59:59+03:00
2025-12-27T15:59:59+03:00
2025-12-27T15:59:59+03:00
By late 2025, Japan’s used-car market is increasingly running on an export logic, with domestic retail left to catch up. November stats point to a seasonal dip versus October: new-car registrations slipped to 93.6% of the previous month’s level, while used vehicles fell to 81.9%. Year on year, both segments are also in the red—new at 94.9% and used at 91.9%. For new cars, that’s the fifth month in a row below last year’s readings, a sign of prolonged supply instability.The chain reaction is predictable: when new-car sales weaken, trade-ins and buy-backs dry up, reducing inflows to the local secondhand market. At the same time, export remains a powerhouse. Industry associations note that shipments of used cars in October rose for the ninth consecutive month, and the 2025 total could edge close to an all-time high of around 1.7 million vehicles. Recovering import regimes in some countries and stronger demand in Africa are lifting volumes, though the risks are obvious as well—political instability can shut down individual routes without warning.The result of this skew is rising auction prices. In November, the average hammer price at USS reached 1.297 million yen, roughly 9.6% higher than a year earlier, while the sell-through rate held at a robust 68.1%. For retailers, that means costly inventory and tighter margins, pushing the sector into a two-speed mode: those with export channels and strict cost control stay ahead, while smaller operators feel the squeeze to the point of leaving the field. On the ground, it already looks like a market where scale and logistics matter more than clever pricing.
Japan used-car market, 2025 outlook, exports, used-car auctions, auction prices, USS hammer price, sell-through rate, new-car sales Japan, dealer margins, Africa demand, used-car shipments
2025
Michael Powers
news
Japan’s used-car market shifts to exports as prices climb
November data show Japan’s used-car market tilting to exports: new sales lag, auction prices up 9.6%, volumes near 1.7m. Who wins as margins tighten in 2025?
Michael Powers, Editor
By late 2025, Japan’s used-car market is increasingly running on an export logic, with domestic retail left to catch up. November stats point to a seasonal dip versus October: new-car registrations slipped to 93.6% of the previous month’s level, while used vehicles fell to 81.9%. Year on year, both segments are also in the red—new at 94.9% and used at 91.9%. For new cars, that’s the fifth month in a row below last year’s readings, a sign of prolonged supply instability.
The chain reaction is predictable: when new-car sales weaken, trade-ins and buy-backs dry up, reducing inflows to the local secondhand market. At the same time, export remains a powerhouse. Industry associations note that shipments of used cars in October rose for the ninth consecutive month, and the 2025 total could edge close to an all-time high of around 1.7 million vehicles. Recovering import regimes in some countries and stronger demand in Africa are lifting volumes, though the risks are obvious as well—political instability can shut down individual routes without warning.
The result of this skew is rising auction prices. In November, the average hammer price at USS reached 1.297 million yen, roughly 9.6% higher than a year earlier, while the sell-through rate held at a robust 68.1%. For retailers, that means costly inventory and tighter margins, pushing the sector into a two-speed mode: those with export channels and strict cost control stay ahead, while smaller operators feel the squeeze to the point of leaving the field. On the ground, it already looks like a market where scale and logistics matter more than clever pricing.
