Between December 2024 and January 2025, used car exports from Japan to Malaysia skyrocketed by an astonishing 360.7%. What triggered this dramatic surge? Behind these numbers lies a perfect storm of government policy shifts, economic stability, optimized logistics, and evolving domestic demand. This article dives deep into the driving forces behind this remarkable growth and what it means for the future of the used car export industry.
1. Expansion of Import Permits (AP) – A Game Changer
What Changed in July 2024?
On July 1, 2024, the Malaysian government implemented a major policy shift in the Open Approved Permit (AP) system for used car imports. Previously, stringent restrictions limited AP issuance to a small group of companies. The new policy opened the floodgates:
Previous Rule: Only a select group of importers could obtain permits.
New Rule: Companies with 100% Bumiputera ownership, over 2 years of operation, and at least 1 million MYR in capital could apply for APs.
The Rise of New Market Players
This policy change tripled the number of AP holders from 100 to 300 companies, igniting fierce competition in the used car import market.
New Car Sales in 2023: 725,000 units
Used Car Imports via Open AP in 2023: 50,000 units (6.8% of the market)
With more players entering the scene, used car imports surged, reshaping the competitive landscape.
How This Impacted Used Car Exports from Japan
With AP restrictions eased, importers scrambled to secure high-quality Japanese used cars, driving up demand. Industry groups, like PEKEMA, even urged the government to increase the annual import quota from 35,000 to 50,000 units. This regulatory shift alone was a key catalyst behind Malaysia's record-breaking import numbers.
2. The Power of Economic Stability & Electricity Price Freezes
Government Intervention: Frozen Electricity Prices
In December 2024, the Malaysian government announced a freeze on electricity prices for the first half of 2025. By injecting 2.388 billion MYR in subsidies, they ensured that manufacturing and logistics sectors remained cost-effective.
This stability allowed the automotive sector to maintain profit margins without passing extra costs onto consumers, fostering a more favorable environment for used car sales.
Malaysia’s Economic Boom
Q4 2024 GDP Growth: 5.0% YoY
2024 Full-Year GDP Growth: 5.1% (up from 3.6% in 2023)
As the economy strengthened, consumer purchasing power increased, boosting demand for used cars.
The Yen Factor – A Currency Advantage for Malaysian Importers
Throughout 2024, the Malaysian Ringgit appreciated 14.7% against the Japanese Yen:
Early 2024: 1 MYR = 30.7 JPY
End of 2024: 1 MYR = 35 JPY
With Japanese cars becoming cheaper for Malaysian importers, the market saw a massive increase in purchases before currency fluctuations could reverse the trend.
3. The Perfect Logistics Storm: Lower Costs & Smarter Operations
Shipping Costs Took a Dive
By late 2024, global shipping costs had stabilized, significantly reducing transportation expenses for used car exporters:
Average 40-ft Container Rate (Nov 2024): $3,331
Crude Oil Price (2024 Avg.): $81 per barrel
Lower fuel costs and reduced shipping congestion enhanced profit margins for importers, making bulk purchases more attractive.
The Rise of Port Hubs – Japan’s Secret Weapon
Sakai-Senboku Port (Osaka) is emerging as Japan’s key hub for used car exports:
Ranked #3 in Japan for used car exports in 2023
Expanding warehouse & terminal capacity
Actively marketing to Malaysian importers
In November 2024, port authorities conducted a high-profile sales campaign in Malaysia, reinforcing direct export channels and boosting trade volume.
4. Malaysia’s Domestic Market – The Driving Force Behind Demand
Shifts in Consumer Buying Trends
The first half of 2024 saw double-digit growth in Malaysia’s used car market, but things took a turn:
August 2024: Used car sales dropped by 15% MoM.
Late 2024: Dealers stockpiled inventory, anticipating a demand rebound.
Battle Against Chinese Automakers & Financing Restrictions
Aggressive price cuts from Chinese automakers disrupted market dynamics.
Malaysia introduced electronic invoicing (e-invoicing) in August 2024, tightening auto loan approvals, requiring higher down payments, and limiting 100% financing options.
In response, dealers ramped up promotional campaigns, offering massive discounts (up to MYR 10,000) to attract buyers. Importers seized the opportunity to bulk purchase Japanese used cars while prices and shipping rates remained favorable.
Conclusion: The Perfect Storm of Market Forces
The 360.7% increase in used car exports to Malaysia wasn’t a coincidence. It was fueled by a convergence of powerful factors:
Regulatory Loosening – AP restrictions lifted, bringing in more importers.
Economic Growth & Currency Shifts – Strong GDP growth and a weak yen made Japanese cars cheaper.
Lower Logistics Costs – Shipping costs fell, making bulk imports more profitable.
Anticipatory Demand – Dealers stockpiled used cars, expecting a sales surge in 2025.
With all these elements aligning, Japan-Malaysia trade relations in the used car sector have never been stronger. The key question now is: Will this trend continue, or will market corrections slow it down? Stay tuned for our next analysis!
国名 | Country name | １２月 | １月 | 増減割合 |
アラブ首長国連邦 | UAE | 21,079 | 17,126 | -18.8% |
ロシア | RUSSIA | 11,805 | 7,710 | -34.7% |
モンゴル | Mongolia | 6,663 | 6,094 | -8.5% |
タンザニア | Tanzania | 6,689 | 6,059 | -9.4% |
マレーシア | MALYSIA | 1,247 | 5,745 | 360.7% |
タイ | Thailand | 5,050 | 3,993 | -20.9% |
ニュージーランド | NEW ZEALAND | 6,800 | 3,743 | -45.0% |
フィリピン | PHILIPPINE | 3,320 | 3,672 | 10.6% |
ケニア | KENYA | 5,380 | 3,566 | -33.7% |
チリ | CHILE | 7,310 | 3,553 | -51.4% |
南アフリカ共和国 | SOUTH AFRICA | 6,186 | 3,428 | -44.6% |
ミャンマー | Myanmar | 3,119 | 2,306 | -26.1% |
ウガンダ | Uganda | 3,201 | 1,933 | -39.6% |
ジャマイカ | JAMAICA | 2,648 | 1,646 | -37.8% |
ナイジェリア | Nigeria | 1,898 | 1,534 | -19.2% |
ガイアナ | Guyana | 2,407 | 1,416 | -41.2% |
バングラデシュ | BANGLADESH | 2,235 | 1,278 | -42.8% |
コンゴ民主共和国 | Democratic Republic of the Congo | 1,406 | 1,092 | -22.3% |
ザンビア | Zambia | 1,349 | 1,047 | -22.4% |
英国 | United Kingdom | 2,042 | 1,047 | -48.7% |
アイルランド | Ireland | 1,183 | 1,029 | -13.0% |
アメリカ合衆国 | United states of america | 1,521 | 955 | -37.2% |
ガーナ | Ghana | 1,222 | 893 | -26.9% |
ジンバブエ | Zimbabwe | 760 | 747 | -1.7% |
オーストラリア | AUSTRALIA | 1,462 | 733 | -49.9% |
ジョージア | Georgia | 2,008 | 714 | -64.4% |
モザンビーク | Mozambique | 992 | 655 | -34.0% |
バハマ | Bahamas | 610 | 441 | -27.7% |
フィジー | Fiji | 845 | 359 | -57.5% |
シンガポール | SINGAPORE | 384 | 198 | -48.4% |
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The Japan Carrier Team
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