Inflation-hit Japanese hold on to cars, appliances longer than ever

Time between purchases of durable goods reaches record high

20231209N washing machines

Prices of washing machines have risen 60% in Tokyo since 2005. (Photo by Mayumi Tsumita) 

RYO ASAYAMA and KANOKO SAKAMOTO, Nikkei staff writers

TOKYO -- People in Japan are squeezing more years out of their old cars and refrigerators instead of buying new ones as prices rise faster than wages.

Replacement cycles lengthened for 11 durable goods categories tracked by comparable government data from March 2005 to March 2023, Nikkei research shows.

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