It’s not all bad news in the motor industry - Ferrari made a €339m profit in 2008 and sold more cars than it did in 2007, with sales up by two per cent.
Ferrari shifted 6587 cars last year, and although that’s only 122 more than in 2007, it’s still a gain in sales in a market that is overwhelmingly down.
The US is the Ferrari’s biggest market, making 26 per cent of global Ferrari sales, although sales there didn’t increase in 2008. Sales in Eastern Europe were up 23 per cent, and the firm sold more than 200 cars in China for the first time.
Merchandising and licensing also helped boost Ferrari’s revenues, with income up by 35 per cent in those areas.