In this market, you will barely find an automaker that wants to sell less – well Ferrari is apparently one exception. According to Ferrari’s Chairman, Luca Montezemolo, the company wants to limit sales of its lineup to protect the brand’s exclusivity.
Montezemolo said that Ferrari wants to bring sales down from 7,000 units or by ‘more than 1 or 2 percent’ from last year’s sales of 7,318 cars.
Unfortunately for Ferrari, sales of its vehicles have been outstanding so far in 2013. For the first four months of this year, Ferrari’s sales have been up by 4 percent over last year.
Montezemolo said that the “the exclusivity of Ferrari is fundamental for the value of our products. We made the decision to make fewer cars because otherwise we risk injecting too many cars on the market.”
How does Ferrari plan on keeping revenue afloat while cutting back on sales of its vehicles? Montezemolo says that Ferrari is betting that its engine business will help keep revenues on track.
– By: Omar Rana