Reports from Japanese media indicate that the Ukraine conflict has rippled into Japan’s used car market. Fresh car shipments slowed because of a global semiconductor shortage, while prices for second-hand vehicles climbed for a period before easing again. With exports to Russia, the top destination, dropping sharply, the momentum in the used car market began to reverse as well.
Yamagin Trading Co., Ltd., based in Tokyo, has long been a prominent supplier of second-hand cars to Russia, moving roughly two to three hundred units each month. By March, that volume fell by about ninety percent, illustrating how economic sanctions imposed by Japan, the United States, and European allies have weakened the ruble and complicated procurement for Russian buyers and local trading houses alike.
Hiroshi Sato, president of Yamagin, reflects on the situation: “A large share of the vehicles found in Vladivostok are Japanese. If the current disruptions persist for a year, the entire industry could face significant challenges.”
In response to the crisis, the Japanese government announced a ban starting April 5 on exporting cars valued over 6 million yen (roughly 3.9 million rubles) to Russia, covering both new and used models. Market participants fear that additional restrictions may follow, potentially deepening the downturn in the regional automotive trade.
- These cars originated not only from Japan but also from England and other left-hand traffic nations, and even from the USSR itself. The broader history and regional context behind this trend are explored in depth in our ongoing coverage.
- Further insights on the topic are available through the publication’s accompanying features.