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Ferrari Profits Rise

Wednesday 11th February 2009
Despite economic downturn Ferrari sees profits rise


Ferrari has bucked the downward trend in the motor industry by making a 339m Euros profit and increasing its sales in 2008. The Italian carmaker saw sales increase 2% over 2007, with 6,587 cars being delivered compared to 6,465.

North America remains the Prancing Horse’s largest market with 1,700 cars (26% of the world total) sold there. Sales in Eastern Europe jumped by 23% and in China Ferrari exceeded 200 cars for the first time.

Sales to the Middle East and South Africa continued to grow, with 366 cars delivered, an increase of 12% on the previous year’s figure. The manufacturers trading profit was a 27% increase on the previous year’s figure.

Ferrari Chairman Luca di Montezemolo said: ‘Ending 2008 with results unprecedented in the entire history of the Company is the best endorsement we could have of our strategy of exclusivity, innovation and focus on people.’

He added: ‘The economic climate in 2009 still remains very uncertain as the crisis takes its toll across the globe and it is hard to say how the situation will develop from here. That means, of course, that Ferrari will have to lavish even more attention on every single detail and continue to innovate whilst preserving the exclusivity of our products with respect to  market demands.’

Author: Oli S

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Last comment was by Egstar
on 17th February 2009