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Lamborghinis Stranded in Sri Lanka as War Disrupts Asia's Used-Car Trade

The U.S. and Israeli strikes on Iran have choked the Strait of Hormuz, causing severe port congestion that left more than 500 Japanese‑exported cars idle at sea before finally off‑loading in Sri Lanka’s Hambantota port ten days late. Japanese firm Kobe Motor, which ships about 18,000 used vehicles annually, now has 50 luxury cars stranded in Sri Lanka and China, while South Korean exporters face similar delays and storage costs of roughly $31,000 per month. Freight rates have spiked and some shippers are demanding $5,000 deposits per vehicle, forcing dealers to consider costly air freight or alternative routes. The disruption threatens the $19 billion combined used‑car export market of Japan and South Korea, especially in the Middle East where demand peaks each spring.