Warc Blog

Ferrari focuses on exclusivity

10 May 2013
MARANELLO: Ferrari, the Italian luxury automaker, plans to cut sales of its iconic cars to below 7,000 during 2013 in order to maintain the marque's distinctiveness.

"Those who buy a Ferrari buy a dream, and they must be reassured that their dream of exclusivity will be fulfilled," said chairman Luca di Montezemolo, adding that "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," he explained.

In 2012, Ferrari sold 7,318 cars worldwide, as sales grew in China, the US and Middle East. But with a crackdown on corruption and gift giving in China, sales of luxury goods there have slowed.

Although Ferrari production may be slowing, its parent company, Fiat, is planning to use Ferrari engines in a new range of Maserati models aimed at consumers in emerging markets.

Analysts anticipate that these premium cars will be given an extra boost with the tie to Ferrari, a form of brand extension.

Montezemolo also indicated that Ferrari could help out Alfa Romeo, another Fiat brand. "There are surely collaborations in sight," he said.

On one issue, however, he was adamant: "We will never manufacture an electric car as long as I'm chairman."

Data sourced from Financial Times, Wall Street Journal, Yahoo!; additional content by Warc staff

 
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