Connect with us

News

EV Transition Is Making Supercars More Valuable Than Cash Japan

Published

on

Image for article titled The EV Transition Is Making Supercars More Valuable Than Cash in Japan

Photo: Jun Sato (Getty Images)

Supercars are going through a bit of a boom period in Japan as the wealthy emerge from pandemic lockdowns to a weaker yen and a competitive used-car market. Ferraris and Lamborghinis are highly sought after in the country not only as marvels of engineering but as lucrative investments, too, according to Bloomberg.

But pandemic restrictions lifting and the scarcity of new cars due to supply chain issues aren’t the only things driving the sales boom of supercars: the EV transition is also partially to blame for the recent spike in supercar sales. Well-heeled buyers in Japan are wary of the imminent switch from ICE-powered cars to EVs, and wealthy collectors are scrambling to buy supercars from Ferrari and Lamborghini. From Bloomberg:

After more than two years of Covid-related restrictions, drivers are spending money on new cars, while the global shift toward electric vehicles is sparking interest in supercars and the growl of their engines, according to Yasuhiro Suyama, president of the Japan Supercar Association.

“If you don’t drive them now, then when?” Suyama said.

That mentality is reflected in the number of new registrations for cars priced over a certain threshold, which analysts in Japan associate with the sale of supercars. Registrations jumped by 64 percent this year, after having jumped by 75 percent last year. It’s unclear how many of those registrations will sadly end in a weather-sealed warehouse that’ll house Lambos and Ferraris the same way that a bank vault houses coins and currency. Auto sales analysts take the idea even further, saying that it’s “better to invest in ultra-luxury cars for their resale value rather than holding cash.”

Image for article titled The EV Transition Is Making Supercars More Valuable Than Cash in Japan

Photo: Katsumi KASAHARA/Gamma-Rapho (Getty Images)

Again, that has as much to do with the global pandemic generating more wealth for the wealthy as it does with any impending transition to EVs. And now that executive salaries are up while the Japanese Yen is down, the stars have aligned for the market.

But Japan’s unprecedented sales of supercars is more or less similar to the renewed interest in cars with manual transmissions; the advent of EVs has brought with it a few side-effects we didn’t expect. While it’s not exactly surprising, it’s still funny that the concept of the last hurrah applies to most things that involve people. I can’t say I’ll miss supercars because I’m hardly a prospective buyer — as a plebeian and Millennial — but I will miss the manuals. All I can do is hope the resurgence of stick shifts will convince auto makers to find an alternative.

Image for article titled The EV Transition Is Making Supercars More Valuable Than Cash in Japan

Photo: Christopher Jue (Getty Images)

Continue Reading

Recent News

Blendable Blush Blendable Blush
Beauty2 days ago

Customising Your Makeup with Blendable Blush Options

In cosmetics, one’s face is a canvas for self-expression and creativity. Among the myriad of products available, blush is a...

Home Maintenance Home Maintenance
Home5 days ago

The Benefits of Regular Home Maintenance

Regular home maintenance is essential for maintaining and even raising the value of your house. A proactive approach to repairs...

Adelaide Adelaide
Digital Marketing6 days ago

Understanding the Importance of SEO in Adelaide

In the digital marketplace, Adelaide businesses are in a continuous contest to gain the attention of their target audiences. With...

Traveling Nurses Pay Traveling Nurses Pay
Health7 days ago

Breaking Down the Numbers: Understanding the Average Traveling Nurses Pay

The open road, adventure, and the chance to heal – travel nursing promises an undeniable allure. But amidst the excitement,...

Oily Skin Oily Skin
Fashion1 week ago

Dealing with Oily Skin in Summer: Tips and Tricks

As the temperature rises, those with oily skin often face an additional challenge—maintaining a clear and balanced complexion. Excess oil...

Mountain Wedding Mountain Wedding
Wedding2 weeks ago

Mountain Wedding Ideas for 2024

A mountain wedding is a stunning choice for couples who cherish nature and desire a distinctive wedding experience. Whether you...

Salon Salon
Health2 weeks ago

3 Of The Best Ways To Keep Your Salon Clean

It is of the utmost importance to ensure that a salon is kept scrupulously clean, not just for the sake...

Blood Tests Blood Tests
Health2 weeks ago

3 Reasons You Should Get Blood Tests Every Year

Regular blood tests are essential for preserving general health and identifying potential problems early on. Medical professionals can evaluate your...

Crafts Project Crafts Project
Lifestyle2 weeks ago

How to Make Your Next Crafts Project Pop

Crafting is a creative outlet that allows individuals to express themselves through various mediums such as paper crafts, sewing, painting,...

Traveling With Children Traveling With Children
Travel2 weeks ago

5 Things You Need When Traveling With Children

Traveling with children can be both thrilling and challenging, whether you’re embarking on a road trip across the country, navigating...