In Japan, registrations for Ferrari cars surged by 46% to 558 units in the year that ended March 31 – the highest level in 12 years. This is due to the rising optimism over the moves made by Prime Minister Shinzo Abe to weaken the yen. As a result, the No. 3 largest economy in the world got a boost. The Japan Automobile Importers Association said that C Registrations for the Ferrari brand, which is owned by Fiat SpA, are at their highest since 2000.
That year, 573 Ferraris were delivered to Japan. Toshihiro Nagahama, chief economist at Dai-Ichi Life Insurance Research Institute in Tokyo, said that this increase implies that there’s an optimistic outlook on the economy. The Bank of Japan said at an April 1 release that this increase comes as local households have become more optimistic about the economic outlook since September 2008.
The importers association said that sales of imported cars valued at over 10 million yen have increased for two consecutive years. A spokesman for the importers group, Michiaki Ishida, said that demand appears to be returning and that this trend is expected to continue. It’s no surprise that the largest Ferrari owners' club is in Japan with over 600 members.