While listings at used-car auctions (AA) surged, September transaction prices fell 2.2% year on year, marking the first year-on-year decline in 13 months. USS saw increases in both listings and transactions in September, but its transaction rate declined.
According to the September used-car market statistics report released by Fabrica Communications, a subsidiary of Fabrica Holdings, the transaction price at major AA operator USS was ¥1.275 million in September, down 2.2% year on year and below the prior-year level for the first time in 13 months.
Listings increased 19.2% year on year to 329,966 vehicles, while transactions rose 9.2% to 212,488 vehicles. As listings grew faster than transactions, the transaction rate fell from 70.3% in the same month of the previous year to 64.4%. Unsuccessful transactions increased 42.8% to a total of 117,478. Meanwhile, September transaction prices rose from the previous month, and the company said that it could not yet conclude that market prices were in a sharp decline.
Domestic used-car registrations and reported units totaled 525,366 in September, down 4.0% year on year, while listings at AA increased. On the export side, exports to the Middle East fell 35.2% to 51,014 vehicles, showing divergent trends depending on market conditions. Fabrica Holdings highlighted the importance of making purchasing decisions based on individual factors such as vehicle model, age and mileage, taking inventory turnover and profitability into account.