Author: Jack
POSTED ON 09 Aug 2019

Japanese Car Sales Plummet In South Korea

As tensions continue to rise between Japan and South Korea over diplomatic disputes on wartime labor compensation, Japan moved to remove Korea off of its trusted trade partners list (“white list”). The move would mean Japanese exporters would need to apply for clearance to export a wide range of goods.

This in turn as led to an all out boycott of Japanese goods. Toyota sells dropped 32% from a year earlier, where as Honda fell by 34%.

The automotive manufactures are still assessing if the drop was caused by the growing tension between the two countries, or if it was caused by some other factors such as summer holidays.