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Why Used Japanese Sports Cars Are Soaring in Price

  • By Kinex
  • 12/12/2021

The prices of used sports cars are skyrocketing. I looked at used car sites on the Internet and picked up the following models and prices.

Nissan Skyline GT-R (R34 model / 1999-2002 / Price when new: 4,998,000 yen and up)
Average price: about 17 million yen, highest price: about 35 million yen
Toyota Supra (80 model / 1993-2002 / Price when new: 2.84 million yen and up)
Average price: approx. 5.5 million yen, highest price: approx. 12 million yen
Honda NSX (First generation / 1990-2005) / Price when new 9,667,000 yen
Average price: approx. 9 million yen, highest price: approx. 34 million yen
Nissan Fairlady Z (Type 32 / 1989-2000) / Price when new: 3,050,000 yen and up
Average price: about 2 million yen, highest price: about 9 million yen
Nissan Silvia (S14 / 1993-1998) / New car price 1,965,000 yen and up
Average price: approx. 2,200,000 yen, highest price: approx. 4,500,000 yen
Honda S2000 (1999-2009) / New car price: 3.78 million yen and up
Average price: approx. 3.5 million yen, highest price: approx. 11 million yen
Mazda RX-7 (FD model, 1997-2002) / New car price: 2,988,000 yen and up
Average price: approx. 4.5 million yen, highest price: approx. 13 million yen

 The top sports models of the time, such as the Nissan Skyline GT-R (R34), Honda's NSX, and Toyota's Supra (80) from more than 20 years ago, are now usually priced at 10 million yen or more, not 5 million yen or more.

 The prices of the lower category models such as the Fairlady Z (Model 32), Silvia (S14), and Honda S2000 have also risen rapidly, and it is no surprise that used cars cost more than the price of a new car at the time. What's even more surprising is that the market price of used cars has risen even for models that have only recently been sold, or even for models that are still on sale.

The average price is about 2.3 million yen, with a maximum of 2.3 million yen.
Average price: approx. 2.3 million yen, highest price: approx. 5.7 million yen
Toyota 86 (2012 - 2021) / New car price: 1.99 million yen and up
Average price: approx. 2.1 million yen, highest price: approx. 7.5 million yen
Mazda Roadster (FD model, 2015-) / New car price: 2,495,000 yen and up
Average price: approx. 2.4 million yen, highest price: approx. 3.4 million yen
Daihatsu Copen (2014-) / New car price 1,798,000 yen and up
Average price 1,600,000 yen, maximum about 3,400,000 yen

 The S660, which will be discontinued this year, has a higher used car market value than it's new car price! Toyota's 86, which was replaced by a new model this year, and the current models, the Roadster and Copen, are also as close to new car prices as possible. The situation is absolutely astonishing.
U.S. buying up old models under the "25-year rule

 So why are used sports car prices soaring? There are a number of possible reasons.

 First of all, movies, cartoons, and anime featuring Japanese sports cars, such as the "Wild Speed" series and "Initial D," have become global hits.

 As a result, the number of inquiries for used Japanese sports cars has increased, which in turn has led to higher prices.

 There is a so-called "25-year rule" between the U.S. and Japan. This is a system in the U.S. that prohibits the import of right-hand drive used cars, but allows right-hand drive cars if they are 25 years old or older and registered as classics.

 Due to the existence of this rule, people in the U.S. who want Japanese sports cars are buying up Japanese cars that are 25 years old. In other words, the 25-year rule had a big impact on the soaring prices of old sports cars before 1995. In addition, the Corona disaster is probably one of the reasons for the soaring prices of used sports cars. As a matter of fact, I've heard that many of the sports car customization stores in Japan have seen an increase in work due to the Corona disaster. I guess they are saying, "We can't go anywhere, so let's tweak our hobby sports cars.

 Also, unlike public transportation, traveling by car does not put you in close contact with others. For this reason, even in 2020-2021, when the economy was stagnant due to the Corona disaster, used car sales were almost the same as in previous years.

 According to the "Total Used Cars and Passenger Cars" released by the Japan Automobile Dealers Association, used car registrations in 2020 were 99.2% of the previous year's total, and in 2021 they were 99% in the January-September period. Used car sales were not affected at all.

 In the midst of this trend, many people probably thought, "If I'm going to buy a car, I'll buy a sports car. This must have been the reason why the prices of relatively new used sports cars soared.
Gasoline-powered cars on the brink of extinction

 So the question is, what will the future hold? On the one hand, there is the possibility that prices will go down if we wait for them to rise. On the other hand, there is a good chance that the price will just keep going up.

 Personally, I don't think the price will go down in the future. This is because "gasoline-engine sports cars are on the verge of extinction.

 The topic of the day is "carbon neutral". In terms of cars, we need to improve fuel efficiency. In order to achieve this, future cars will be increasingly hybridized and EVs (electric vehicles) will also increase.

 At this rate, there is a very big possibility that the new models coming out in 10 years will not be cars that run purely on engines, and the sports cars that run only on engines may end up being the ones that are sold now. Even if they don't disappear, there is no doubt that they will be drastically reduced. If such a situation arises, the value of sports cars with engines will become very high, and the used car market will rise accordingly. As a result, people will buy used sports cars for speculative purposes, and prices will rise further. If the number of people buying used sports cars for speculation purposes increases, the price may eventually become unaffordable to the general public.

 In that sense, now is the time to buy a sports car. For used cars, this means "before it gets even more expensive," and for new cars, it means "while it's still on sale.

 Especially for new cars, there are sports cars such as Toyota's GR Supra, GR86, and GR Yaris, Subaru's BRZ, Nissan's GT-R and Fairlady Z, Mazda's Roadster, Daihatsu's Copen, and Suzuki's Swift Sports and Alto Works.

 Whether these cars will still exist 10 years from now is quite uncertain. If they are discontinued, the price of a used car may be higher than the current price of a new car, but you can still buy one now at a fixed price.

 If you want an engine sports car that is headed for extinction, you might want to hurry.

Translated with (free version)