Japan happens to be the second largest market for Ferrari cars. Find out how the company intends to capture the market by establishing its base amongst Japanese Ferrari lovers.
When it comes to mean and lean driving machines there is nothing that stands in comparison with Ferrari. The brand that brought race cars off the track and onto the city streets is known for creating highly sophisticated speedsters with looks that kill.
The brand has long been fascinating the world wide public and has its authorized agents in a number of countries around the world. Foremost amongst them is the United States, Britain, France, China and Germany. Ironically up until last year there was no sign of a locally owned dealership of the company in Japan although the country has continuously stood at number two with regards to Ferrari’s market base.
The import regulations
The only way for Ferrari vehicles to come into the land of the rising sun was through independent importers. For years the second largest market of the company has been paying heavy prices as per the import regulations. Recently however Ferrari made public its desire to set up a wholly locally owned subsidiary of the company in Japan in order to cater to the ever growing local market needs.
As it is Japan is considered to be the single largest luxury market not just within Asia but on a global level. With the likes of Rolls-Royce, Lamborghini and other big time super car manufacturers eating up Ferrari’s declining market share the company has decided to plant its base in the heart of Japan.
The last year saw an improvement in the sales that Ferrari managed to achieve which rose to 38.7% of the market share. By establishing its local subsidiary the company hopes to keep up this trend as it will be better able to manage the sales in Japan by being locally stationed there.
The much needed change
The decision to develop its base in Japan was officially made public in February 2008. The local subsidiary would replace the function that was previously being played by independent importers. This would also have a great impact on the purchasing price of the Ferrari which is likely to decrease for the local buyers. As a result the company will be able to increase its sales by offering a more competitive price than the independent importers could afford to do.
Japan is a very important market for Ferrari. The decision to establish its base in the country is late but welcomed. The Ferrari Asia Pacific Division Headquarters will be administrating the import of Ferrari Japan KK into Japan’s local market.
On the retail side however Ferrari KK will continue to cooperate and work in partnership with European Version CO. Ltd as well as Crones and Company Ltd. These local along with other affiliates have done a lot for the promotion of Ferrari vehicles in Japan and the company’s extended cooperation with them is a token of appreciation for them.
Not only is Ferrari climbing to the top of the luxury car market in Japan it is also developing newer vehicles in cooperation with Japanese engineers and automobile manufacturers.
