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Italians Say Goodbye to Ferraris as La Dolce Vita Expires: Cars

The 204,000-euro Ferrari 458 Italia has never been a particularly common sight, even on the autostrade of its native Italy. Today it’s becoming even rarer as austerity measures spur Ferrari owners to export supercars by the truckload.

A crackdown on luxury goods combined with budget cuts that have pushed Italy deeper into its fourth recession since 2001 are souring demand for sporty cars and other symbols of the country’s carefree lifestyle. The number of secondhand high-performance cars exported from Italy nearly tripled to 13,633 vehicles in the first five months of 2012, from 4,923 a year earlier, according to auto industry group Unrae.