Japan used car registrations in 2022 hit new record low

Used car registrations in Japan in 2022 hit a record low for the second consecutive year, down by 6.3 percent from the previous year at 3,495,305 units, data from the Japan Automobile Dealers Association showed Tuesday.

Registrations have been on the decline for three years running due to an ongoing semiconductor shortage leading to less production of new units, impacting the number of vehicles that enter the secondhand market through consumer tradeoffs and other means.

Registrations included vehicles sold by secondhand car dealers, as well as those made through private ownership transactions....