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Secondhand Japanese cars may be target of the boycott

Aug 08,2019
As the boycott of Japanese goods continues, Korean customers are less willing to buy Japanese used cars, industry data showed Wednesday.

According to used-car trading platform SK Encar, the number of people interested in buying secondhand Japanese vehicles decreased, while the number of those trying to sell their old Japanese cars increased in July.

The number of views for five Japanese car brands ? Nissan, Toyota, Lexus, Infiniti and Honda ? decreased 18.1 percent last month compared to a month earlier, SK Encar said.

The steepest decline was seen for Honda, with a 22.9 percent drop in views.

The number of inquiries for Japanese used cars also fell.

While the number of inquiries for Honda cars remained about the same, the number for the four other Japanese makes declined 15 percent on-month. The number of inquiries for Infiniti cars dropped 20.6 percent on-month, while that for Lexus vehicles decreased almost 20 percent.

While the number of prospective buyers decreased, SK Encar said its users listed more of their Japanese vehicles on the used-car trading platform.

The number of vehicles from five Japanese auto brands on sale on the website increased 28.4 percent on-month to 2,042 units in July.

“Since Japan’s export restrictions against Korea, the number of inquiries and the number of views for Japanese cars has decreased, but the number of registered vehicles for sale increased,” said SK Encar spokesperson Park Hong-kyu.

“If this situation continues, the price levels for these cars are expected to be affected.’

BY KO JUN-TAE [ko.juntae@joongang.co.kr]


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