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Automotive Consumer
AUTOS: Ferrari Foresees Record Year
Chairman predicts that worldwide sales and profits will eclipse record 2011 despite economic slump and Formula 1 investments.
Ferrari chairman Luca Cordero di Montezemolo said the Italian automaker is on track for another record year. (Photo: Ferrari)
Ferrari chairman Luca Cordero di Montezemolo is predicting another record year for the Italian supercar manufacturer, despite the poor economic situation in Europe, the possibility of slower growth in China, and heavy investment in Formula 1.
Last year, Ferrari sold a record 7,195 cars, including a record high of 1,958 vehicles in the United States, and so far 2012 looks set to be even bigger. The information was revealed by di Montezemolo during an interview with Automotive News Europe.
"From the latest data I've seen, we are on track to make this year another record year," he told the industry publication.
For the first six months of the year, Ferrari’s sales are already up seven percent on the same period last year, coming in at a total of 3,664 units. At the same time, profit is up by 13 percent for the first six months of the year, registering at 152 million euros (approximately $190 million).
The record figures, particularly in the case of profit, is at a time when Ferrari is investing millions to develop a new V6 engine for F1 racing. Though the switch to new turbocharged 1.6-liter V6 engines doesn’t take place until the 2014 season, Ferrari engineers are already working on the new hardware, which takes years to develop and can cost upwards of $75 million.
"The new F1 engine is a considerable burden for a company as small as Ferrari," di Montezemolo explained.
Nevertheless, the company remains on track for new record this year, and with its latest model, the F12 Berlinetta, only starting delivery early next year, and the successor to the Enzo supercar also due out next year, it looks like 2013 could be even bigger than this year.
This story originally appeared at Motor Authority.
Last year, Ferrari sold a record 7,195 cars, including a record high of 1,958 vehicles in the United States, and so far 2012 looks set to be even bigger. The information was revealed by di Montezemolo during an interview with Automotive News Europe.
"From the latest data I've seen, we are on track to make this year another record year," he told the industry publication.
For the first six months of the year, Ferrari’s sales are already up seven percent on the same period last year, coming in at a total of 3,664 units. At the same time, profit is up by 13 percent for the first six months of the year, registering at 152 million euros (approximately $190 million).
The record figures, particularly in the case of profit, is at a time when Ferrari is investing millions to develop a new V6 engine for F1 racing. Though the switch to new turbocharged 1.6-liter V6 engines doesn’t take place until the 2014 season, Ferrari engineers are already working on the new hardware, which takes years to develop and can cost upwards of $75 million.
"The new F1 engine is a considerable burden for a company as small as Ferrari," di Montezemolo explained.
Nevertheless, the company remains on track for new record this year, and with its latest model, the F12 Berlinetta, only starting delivery early next year, and the successor to the Enzo supercar also due out next year, it looks like 2013 could be even bigger than this year.
This story originally appeared at Motor Authority.
The Lyonheart K
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