Facing the weakening Japanese economic condition, the country's elite began to look for other ways that were believed to be a solution for safeguarding funds. Japan is now starting to rely on luxury supercars, considered a solid investment, mainly to deal with the weak yen.

People who pay attention to the Japanese economy must realize that the country's economy is not doing well. You could say that this is the worst condition Japan has ever experienced, and the public emphasizes that Japan must find safe funds.

And since the news came out, Ferraris, Lamborghinis, and several luxury sports cars have experienced an extraordinary surge in sales. Regulations of vehicles, even though costing more than 20 million Yen or around 136,000 USD.

Total vehicle registration itself recorded an increase of around 75%. However, this condition also causes the availability of supercars to decrease due to the chip shortage in the global auto industry. And the public believes that this way is the best.

Honda and Nissan Even Experienced an Increase in Annual Profit Due to The Weak Yen

Demand continues to outstrip the supply, which is the current condition of the Japanese automotive industry. Yasuhiro Suyama, president of the Japan Supercar Association, told Bloomberg media last Wednesday: "If you don't drive them now, then when?

And the weak yen will affect not only the public's condition but also the automotive industry players in Japan. Honda Motor and Nissan Motor have just released annual earnings projections in the era of the weaker yen.

But these companies are claimed to be experiencing positive movements. Honda is believed to get a net profit of 725 billion yen or around 4.97 billion USD for the year ending in March 2023. 

However, Honda Motor emphasized that this is not new because, in the second quarter, first half, and full-year forecast, the yen's weakness remains to increase annual profit. Nissan is also said to have suffered the same fate, experiencing a slight boost from the weaker yen.

It is believed that the annual Yen projection is around 155 billion yen. And the operating income of 360 billion yen will generate total revenue for Nissan Motor of 10.9 trillion yen for.

Nissan Motor president and CEO Makoto Uchida said: "This is a dramatic yen condition, and as a result, our earnings have increased. But from a medium to long term perspective, the stable exchange rate is the favorable one for the various issues,"

Meanwhile, Nissan's Chief Operating Officer, Ashwani Gupta, believes material costs will increase through 2023. Chip shortages are the most severe condition for this condition, so sales volume and total profit may not be as good as this month.

Honda has been helped by robust performance in its auto business, particularly in Asia, which is also a way to increase product value. Operating profit increased with a forecast adjusted to the domestic market, so that concern for the Japanese economy also began to grow.

Japan Spends Over $40 Billion Raising Yen in October

Japan's economy is expected to have slowed markedly in Q3 due to the worsening global recession. It forced customers to keep a harsh impact. The cost of living strains then provides demand and stepping up support for restrictions and other capital expenditures.

In addition, the Japanese government is said to have spent over 40 billion USD to raise the Yen in October. But it is also mentioned that this is not entirely successful. The yen will be more stable, but according to calculations, the almighty dollar makes it difficult.

The Bank of Japan is said to need more intervention from the government. The yen will not return to steady levels because the dollar is strengthening. In the same period, the weakening Yen also became the capital for the Japanese to buy luxury cars, and it continued to stage.