Sales slip just five per cent despite economic downturn
15 February 2010

Ferrari says it weathered last year’s global economic storms with sales of 6250 cars, only five per cent down on 2008.

The company says that while the luxury sports car market collapsed by 35 per cent in 2009, Ferrari’s market share rose to 10 per cent, making it the leading manufacturing in the segment.

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The Italian company says it is also set to invest 18.5 per cent of its revenues in new products, a very high proportion for the car industry.

Ferrari bosses also make the point that the company can self-finance new products, unlike Aston Martin, which is thought to be preparing to float on the stock market to raise funds.

Ferrari made an operating profit of 245m euros (£212m), down from last year’s record 341m euros (£296m), a return on sales of 13.8 per cent. Profits were hit by the weakness of the US dollar.

Ferrari sold 1467 cars in North America last year, down 200. European sales hit 2752 units, down six per cent. Italy (655 cars) and Germany (644 cars) are the biggest EU markets. Asia Pacific markets took 1117 cars. 60 per cent of Ferrari California customers are claimed to be new to the brand.

Ferrari’s branding and merchandising operations are also booming, with retail sales up 22.5 per cent mostly thanks, it says, to the opening of the Ferrari retail store in Regent Street, London.

Ferrari chairman Luca di Montezemolo said, "Achieving these results in such a challenging economic climate is the best possible endorsement of the quality and the commitment of all the people of Ferrari and of our strategy focusing on innovation and exclusivity.

"Those guidelines will also allow us to tackle 2010. It will be a very difficult year and the first small signs of recovery will not come until next autumn."

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Comments
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15 February 2010

a good coming year is on the cards too with the 458 italia

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