Japan Quake Boosted Prices: Honda Fit Up Nearly 6%
Honda Motor Co.Honda Fit
The earthquake and tsunami in Japan in March disrupted the country’s auto industry and cut the supply of many vehicles. Production in Japan during the second quarter fell to less than half of its output the year before.
For some models the resulting scarcity drove prices up from 3% to nearly 6% according to ALG, a researcher specializing in data on depreciation and residual value.
ALG’s research focused on two models, the Honda Fit subcompact car and Nissan Rogue compact SUV. The price for a new 2011 Fit rose about 5.6% from February to June compared with a 2.3% rise for the segment overall. Rogue prices rose about 3% from March to June 2011 compared with a segment average of 0.3%.
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