Due to climbing prices of new vehicles, Japan's used car industry is seeing record profit margins. Major dealerships, benefiting from this trend, have reported an uptick in their highest ever earnings. This shift in the automotive market, brought on by various factors including increased manufacturing costs and supply chain disruptions, prolongs the average lifespan of cars on the road in Japan while making used cars a more attractive option for buyers.

Japanese consumers are cost-conscious and value-oriented, and the stability and reliability of Japanese cars not only domestically but also internationally is well-known. In this situation, where new cars are expensive, the decision to opt for used cars is both economically beneficial for consumers and aligns with the social value of frugality.

In contrast, in the US and the EU, car financing services and lease programs are more developed, which makes new cars more attainable for consumers despite the high sticker prices. Nonetheless, the used car market is still thriving in these regions, especially given recent supply chain disruptions due to the pandemic.