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HomeLatestPrice of used autos soars amid chip shortages

Price of used autos soars amid chip shortages

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The value of used autos has soared in Japan, hitting the second-highest stage prior to now decade, final month.

Japan’s main auto public sale home, USS, says the typical closing value for used autos offered by way of the agency in June was 859,000 yen, or about 7,800 {dollars}.

That’s up about 18 % from the identical month final 12 months, marking the second-highest stage prior to now 10 years after March 2012.

Sources within the used car market say the worldwide scarcity of semiconductors has affected the manufacturing of recent autos, inflicting brief provides and pushing up public sale costs.

Senior analyst at Tokai Tokyo Research Center, Sugiura Seiji says costs of used autos are anticipated to stay excessive in the meanwhile, as it’s going to seemingly take a while for the semiconductor scarcity to be resolved and the manufacturing of recent autos to return to the earlier stage.

– NHK







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