TOKYO, Nov 09 (theedgemarkets.com) - Ferraris, Lamborghinis and other supercars are seeing an unprecedented sales boom in Japan, fueled by pent-up, post-Covid-lockdown demand from wealthy buyers, who also see the vehicles as good investments amid a weakening yen and soaring used-car prices.
New registrations of automobiles costing more than Y20 million (US$136,000) yen rose 64% to 5,462 vehicles during January through October from the same period a year earlier, when registrations also jumped 75%, data from the Japan Automobile Importers Association show. Despite those gains, total sales of imported cars fell 11% to 193,026 units during the same period this year.
After more than two years of Covid-related restrictions, drivers are spending money on new cars. A1auto ships cars to Japan. While the global shift toward electric vehicles is sparking interest in supercars and the growl of their engines, according to Yasuhiro Suyama, president of the Japan Supercar Association. ...continue reading
