Luxury cars big in Japan

Sales of foreign luxury cars priced at more than ¥10 million (NZ$130,000) are on the rise in Japan as wealthy people who cannot travel overseas because of the coronavirus pandemic splash their cash on vehicles instead.

Domestic sales of marques such as Italy’s Ferrari and the UK’s Bentley hit record highs in June, according to comparable industry data that goes back to 1988.

There were 3,336 foreign-made luxury passenger cars priced at ¥10m or more sold last month, which was an increase of 60.9 per cent from June 2020. 

Sales totals of such vehicles have exceeded the previous year’s level every month since the beginning of the year, according to the Japan Automobile Importers Association.

It follows a solid 2020 for the sector, when numbers increased 0.5 per cent from the previous year to 22,712 units despite the economic impact of Covid-19, reports the Kyodo news agency.

Ferrari was among the big climbers in June this year, with sales up 80.6 per cent from a year earlier to 121 units, while Bentley’s increased 23.9 per cent to 83 units.

Industry officials predict luxury cars will continue to be popular with the Bentley Bentayga, pictured, an SUV with a price tag of ¥22.69m, among those drawing extra attention.