“Everything is ok!” says Ferrari regarding its financial crisis

Article by Christian Andrei, on August 29, 2010

Just recently, the Italian car manufacturer denied reports concerning it economical instability, insisting that besides operating within its anticipated limits, everything is going according to plan with regards to sales in spite of the worldwide economic downturn.

Autocar reported yesterday that an insider said that Ferrari would layoff 300 workers by the end of the week as part of a radical cost-savings plan to maintain the company's fluidity.

The statement recently from Ferrari, through MotorTrend, showed that that is, at least for the time being, blatantly untrue.

No announcement of this kind has been made, and though there is an ongoing contractual study inside the firm, the response of the leaders to the false reports serves as a sign that no such layoffs will happen.

The current sales of the company is slower compared to last year, but 2007 was a very good year for the Ferrari, and 2008 has been generally bad for the car industry in total.

Ferrari is around 120 vehicles shorter of its 2007 year-to-date count with 1,482 cars sold in 2008 a decrease of 7.5% in sales, which is good enough considering everything.

The company says that the sales of its F430 are particularly going well, although spider versions are expectedly slow as the Northern Hemisphere approaches the winter months.

Lastly, the intended production holiday is within regular schedules, with the firm asserting it's simply taking benefit of the closeness of the weekend to the holidays this year. It is assured by the Ferrari insider that the extra time off isn't due to an surplus of unsold stock.

Topics: ferrari, sales

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