The number of newly registered Japanese cars in August announced by the Korea Imported Automobile Association on August 4 was 1398 units, down 56.9% from the same month last year. In July, it was 17.2% lower than the same month of the previous year, but the rate of decline expanded. Although the import economy has declined by 5.6% due to the stagnation of the Korean economy, the decline of Japanese cars is conspicuous.
It was confirmed that the non-purchasing movement of Japanese products, which is against the strengthening of the Japanese government's export restrictions on Korea, is also spreading to automobile sales. The month-on-month rate was 47.7% lower.
By brand, Toyota was down 59.1% year-on-year to 542, Honda was down 80.9% to 138, and Nissan was down 87.4% to 58. Lexus, Toyota ’s most popular luxury car brand in Korea, increased by 7.7 to 603, but decreased by 38.6% compared to the previous month.
Obayashi University's professor Kim Jong-jun, who is familiar with the automobile industry, predicts that “the influence of non-buying movements is great. (Seoul = Takuya Suzuki)