On August 9, additional restrictions on car exports to Russia from Japan came into effect. They affected models with engines of 1.9 litres or more, as well as minivans, electric cars and hybrids. Because of these sanctions, the Japanese economy may suffer tangible losses.
According to Alexander Kolevinsky, a car dealer living in Japan, who was interviewed by RIA Novosti, he estimated that Japan will lose up to 100 million yen (approximately 67.18 million rubles or $700,000) every day.
The reason is that the market will shrink for the models that Russians bought: cars with high mileage by Japanese standards, say, about 80 thousand. In Japan it is economically unprofitable to keep such cars – high prices for insurance and maintenance. Russians are not frightened by such figures on the odometer, plus buyers in our country understand how “neighbours” treat cars. Also, one should not forget about the common opinion that models for the Japanese market have a higher quality of assembly.
According to the interlocutor of the agency, as a result of the closure of the sales channel, Japanese cars in the domestic market will become cheaper, approximately twice.
“These sanctions will painfully hit the Japanese themselves, of course. In a week 200 thousand cars are sold at all auctions in Japan. If Russia bought every 10th car last year, it turns out that 20 thousand cars went to Russia per week. And now it will buy every 300th. That is 1.5 thousand cars. Can you imagine the volume?”, – shared Kolevinsky’s opinion, characterising the further consequences for the Japanese economy as dominoes.
The Japanese have been selling cars, paying taxes, but now there will be less revenue due to lower demand. Then there will be a decline in sales of new cars (dealers will offer lower prices on trade-in, for example), which will affect the situation in the whole economy of the country. The prices for spare parts will also rise, the expert believes.
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