Regardless of a latest strengthening of the yen in opposition to the greenback following the Financial institution of Japan’s rate of interest hike and an anticipated U.S. fee lower, the present stage within the ¥140 to the greenback vary remains to be weak in contrast with the ¥100 stage of 5 years in the past.
The weak yen is having a serious affect on companies, together with the used automotive market, the place home consumers are discovering it more and more onerous to purchase amid surging export demand.
At SUV LAND Nagoya, a gross sales outlet of main used automotive supplier Nextage, a 2022 Toyota Voxy minivan with a mileage of 8,500 kilometers on the odometer is being bought for ¥4.55 million ($31,230) — a notably excessive value that may immediate a double take from a potential purchaser. Despite the fact that it’s a high-grade hybrid mannequin, the value tag is way above that of a brand new automotive, which is within the higher ¥3 million vary.