The Japanese luxury car market is booming thanks to Prime Minister Shinzo Abe bringing the country out of a 15-year deflation. Case in point, FerrariFerrariItaly, 1947 > present233 models
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predicts that Japanese sales will be up 30% by year’s end.

Abe’s government has led to rising business confidence, and it just increased the country’s sales tax.

"This new euphoria, that you can feel staying in Tokyo, related to Abenomics. We have a good performance in 2013 compared to 2012," said Giuseppe Cattaneo, Ferrari’s head of Japan, South Korea, Southeast Asia and Australia.

Ferrari sales are up 28% in the first six months of the year in Japan, and it expects to sell about 400 cars there by the end of the year. It sold 302 cars in Japan in 2012.

Similarly, LamborghiniLamborghiniItaly, 1963 > present32 models
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sales are up 13% in the first three quarters of the year, and MaseratiMaseratiItaly, 1914 > present62 models
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is up 16%.  

"It's coming back big time," said Lamborghini CEO Stephan Winkelmann about the Japanese market.

Abe’s turnaround has come thanks to a 5 trillion yen (38.44 billion euro) economic stimulus, and it has worked well enough to raise the sales tax from 5% to 8% on October 1.

Source: Automotive News Europe