As Prime Minister Shinzo Abe pushes on with his plan to take the country out of 15 years of deflation, even a prestigious automaker like Ferrari could profit, with the company forecasting a sales rise of 30% this year.
In an interview in Tokyo, Giuseppe Cattaneo, who the boss of Ferrari’s Far East business, which includes Japan, but also South Korea, Southeast Asia and Australia, said that Ferrari sales would get a good boost from an improving Japanese economy.
The Italians, which showcased the new 458 Speciale sports car in Japan yesterday, had deliveries of 302 cars in Japan last year, according to Maki Kataoka, a Tokyo-based spokeswoman.
“This new euphoria, that you can feel staying in Tokyo, related to Abenomics,” pushed up sales, Cattaneo said. “We have a good performance in 2013 compared to 2012.”
New car sales in Japan last month rose the most in 14 months, adding to signs of an improving outlook in the world’s third-largest economy, while consumer spending rises in preparation of a hike of the consumer sales tax. Ferrari sales in Japan increased 28% in the first six months, according to Cattaneo.
Other luxury carmakers are also reaping benefits from Abe’s drive to jump start the Japanese economy. Deliveries of Lamborghini in Japan went up 13% to 142 units in the first nine months, according to the Japan Automobile Importers Association. Maserati’s sales also rose 16% to 278 units in the same period.