Ferrari sees 30% hike in sales in Japan this year

Article by Anita Panait, on October 10, 2013

Ferrari expects its sales to surge by 30 percent in Japan in 2013, boosted by the improving Japanese economy, Giuseppe Cattaneo, chief of Ferrari's Far East business, told Bloomberg in an interview.  Ferrari spokeswoman Maki Kataoka disclosed that the Italian carmaker sold 302 cars in Japan in 2012. Vehicle sales in the country surged the most in September in 14 months, another indication that the outlook on Japan's economy is improving.

The Bank of Japan recently decided not to add to monetary stimulus after business confidence in the country rose to a new level and after Prime Minister Abe decided that the economy was strong enough to endure a sales-tax increase. Cattaneo, who was in Tokyo for the exhibit of 458 Speciale sports car, remarked that the new euphoria, related to Abenomics, pushed up sales in the country.

According to Cattaneo, Ferrari posted a 28-percent jump in sales in Japan in the first six months. In September, Lamborghini chief executive Stephan Winkelmann said that the carmaker is very happy with Japan. "It's coming back big time," he told Bloomberg in an interview in Tokyo.

Lamborghini logged a 13-percent hike in deliveries to 142 units in Japan in the first nine months, according to Japan Automobile Importers Association. Abe unveiled a JPY5 trillion (38.44 billion euro) stimulus package to help mitigate any damage from the first consumption-levy boost. The stimulus plan will include tax incentives for home purchases and reductions in investment levies.

Topics: ferrari, japan, sales

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