Ferrari sales fall but profit grows

FerrariFerrariItaly, 1947 > present233 models
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has announced record profits in 2013, althought the italian luxury brand registered less sales than in 2012. This however is part of Ferrari's new market strategy that wants to make its car more exclusive but at the same time more expensive.

Last year the Italian brand delivered  6.922 cars, less 5.4% than in 2012. However revenues rose 5% to unprecedented 2.3 billion euros. End-of-year trading profits reached a record 363.5 million euro (+8.3 per cent).

Most significantly is the fact that Ferrari made very umportant investments over the last 12 months, which, including Research and Development, reached an overall figure of 337 million euro (up from 324 million in 2012), almost 15 per cent of revenues. These investments were completely self-financed, but still Ferrari managed a net financial position of 1.36 billion euro, the best ever in the company's history.

“This is a very important result that comes as a direct consequence of the huge effort made by everyone. We wanted to maintain a high level of exclusivity, designing amazing products such as the LaFerrariFerrari LaFerrariItaly, 2013 > present16 photos
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, the 458 SpecialeFerrari 458 SpecialeItaly, 2014 > present and the just launched California TFerrari California TItaly, 2014 > present, the result of significant investment in product and technological innovation,” said President Luca di Montezemolo.

Today, 100 per cent of the cars are personalised, with the Tailor Made programme gaining in strength. The Classic Department is constantly increasing its activity and profitability.
The strategy regarding deliveries to the dealership network announced in the course of the year involved a planned overall reduction in volumes, but paying attention to those markets experiencing very strong demand to avoid excessively long waiting lists.

In terms of markets, although the new strategy, the USA managed a new record 2.035 deliveries, an increase of 9% on the previous year. The UK market grew slightly to 677 homologated cars becoming Europe’s leading market, overtaking Germany (652 deliveries). Sales in Italy were down once again, confirming the trend over recent years. Italy has become a marginal market for the luxury car sector, with 205 orders (3% of Ferrari’s global sales).

Greater China (People’s Republic of China, Hong Kong and Taiwan) maintained its position as the second largest market worldwide with 700 cars sold. Deliveries to the dealership network were down by around a quarter by Ferrari's orders, as a way to contain stock numbers.

In the Middle East and Africa sales increased by 8% to 599 cars delivered to the network.
In the Far East, Japan's sales grew 20% to 380 cars.