The number of cars imported into the Russian Federation from Japan in August decreased by 43%
According to Japan’s Ministry of Finance, in August the volume of car imports from this Asian country to Russia fell by almost half compared to last year. In particular, imports of passenger cars decreased by 42.5%, trucks and buses – by 46%. Let us remind you that on August 9, a ban on the export of electric vehicles, hybrids and cars with an engine capacity of more than 1.9 liters to Russia came into force in Japan. According to the AUTOSTAT agency, in total, about 32 thousand used foreign cars were imported into our country in August, with Japan accounting for 64.3% of the total import volume.
According to Hironori Fushita, an expert from Kobe University of International Studies, Russia was the largest foreign market for Japanese sellers of used cars, and new restrictions will inevitably cause serious damage to this business. “Now some of the cars that cannot be exported to Russia will flood into the domestic Japanese market, which has already led to a drop in prices and a reduction in the income of used car dealers.”
The imposed sanctions and restrictions on the import of cars from Japan have had a significant impact on this segment of trade between the two countries. The Japanese auto industry is forced to look for new markets to compensate for losses from reduced exports to Russia.
