Transaction prices at USS's September auction fell below the prior-year level, while listings increased and transactions remained sluggish. Given the market's overall direction, this is a phase in which it is important to identify the conditions that will sell and determine appropriate purchase prices.
The transaction price at USS's September auction was ¥1.275 million, down 2.2% year on year and below the prior-year level for the first time in 13 months. Meanwhile, listings increased from the previous month to 329,966 vehicles, while transactions remained at 212,488 vehicles and the transaction rate declined to 64.4%. Rather than anticipating a broad market collapse, the focus is on identifying the conditions that will sell and determining appropriate purchase prices.
A breakdown of new- and used-car market trends shows that new-vehicle registrations rose 1.3% year on year to 433,683 in September, with a notable increase in imported vehicles. Used-car registrations, however, fell 4.6%, while AA listings continued to increase without being matched by growth in transactions. Divergent supply and demand conditions in Japan and overseas remain in place.
This month's analysis points to the decline in the transaction rate despite the increase in listings and suggests that the high prices of the previous year may have had an impact. Since transaction volumes and prices vary depending on vehicle age and model mix, it is important to use the conditions attached to recent transaction data when making purchasing decisions.
By vehicle type, Sienta and SUV activity was strong among registered vehicles, while Roox and Delica Mini posted growth among kei cars. Hybrids accounted for a high proportion by fuel type, while the impact of revisions to subsidies for EVs requires close monitoring. Imported vehicles showed significant variation by brand, suggesting the need to assess demand on an individual basis.