Luxury cars

Foreign luxury cars record strong sales in Japan amid pandemic

Foreign luxury cars priced over 10 million yen in Japan are becoming popular among wealthy people who cannot travel abroad amid the coronavirus pandemic but are willing to spend the money earned from the rise in global stock prices.

Domestic sales of luxury vehicles from foreign brands such as Ferrari in Italy and Bentley in Britain hit record highs in June dating back to 1988, when comparable data became available, according to industry data.

The trend stands in stark contrast to the deteriorating living conditions of people on the other end of the financial spectrum, including part-time and non-regular workers, as the spread of the coronavirus has dealt a blow to employment in the financial sector. services and other industries.

Sales of overseas-made luxury passenger cars priced at 10 million yen or more jumped 60.9% to 3,336 units in June from a year earlier. Sales of these vehicles have surpassed the previous year’s level every month since the start of the year, according to the Association of Automobile Importers of Japan.

Sales in 2020 were also strong, increasing 0.5% from the previous year to 22,712 units, even as the economy was significantly damaged by the coronavirus pandemic.

Last month, Ferrari sales jumped 80.6% from the previous year to 121 units, while Bentley’s sales rose 23.9% to 83 units.

Sales of the German BMW Alpina more than tripled from the previous year, while those of the British Aston Martin more than doubled and the British Land Rover soared 90.1%, all recording their sales the highest for June, according to the association.

Industry officials expect these luxury cars to continue to experience strong sales for the time being, with a European automaker seeing the ratio of new customers rise to more than 50%, from 30% before the pandemic.

Among the cars produced by Bentley, the Bentayga sport utility vehicle, which is priced at 22.69 million yen and which underwent a complete overhaul last June, is drawing attention.

“I expect the car to have the highest sales volume ever for the year as well,” said a company official.

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