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Weak Yen Draws Foreign Buyers to Japan’s Used-Car Market

  • Used-car prices rising amid strong demand, new-car shortages
  • Vehicle-auction operator says foreign demand bolstered by yen
Vehicles bound for shipment parked at a port in Yokohama.
Vehicles bound for shipment parked at a port in Yokohama.Photographer: Toru Hanai/Bloomberg

The yen’s historic decline is drawing more overseas buyers to Japan’s used-car market, driving up prices already inflated due to inventory shortages, said USS Co., the country’s biggest auction operator.

Parts shortages have led automakers around the world to cut production and car buyers are unsure when they’ll be able to get their hands on new vehicles, USS President Dai Seta said in an interview. That’s fueling more interest in pre-owned automobiles, he said.