Ferrari announces free seven-year scheduled maintenance program for North America

Article by Christian Andrei, on July 27, 2011

A free seven-year scheduled maintenance program will be given to those who will order a 2012 Ferrari California, 458 Italia or FF from an authorized dealership network.

Ferrari North America said that this new customer care service dubbed ‘Genuine Maintenance’ is an exclusive service from Ferrari that makes sure that the maintenance of these vehicles are to the highest standards and will comply with its safety, performance and reliability requirements. There’s currently no other program like it.

It marks the first time that an automaker provides this level of coverage. Each individual vehicle is covered by the Genuine Maintenance program.

This means that the coverage is extended to any subsequent owner as long as it’s within the seven-year period. What the program covers is the scheduled maintenance labor at standard service intervals (12,500 miles, or once a year, with no limit on total mileage) as well as the relative genuine spare parts, and approved lubricants.

The owner will benefit from the assurance that the vehicle will receive regular annual inspections by Ferrari-trained personnel and that only factory- approved dedicated diagnostic equipment will be used. In the next few months, this service will become progressively available in all Ferrari markets.

In fact, it will eventually involve the global authorized dealership network. This Ferrari Genuine Maintenance seven-year program leads the industry for customer care standards.

The Ferrari S.p.A. Board of Directors led by Chairman of the Board Luca di Montezemolo held a meeting today. The purpose was to evaluate the company’s financial performance in the first 6 months of the year 2011.

Ferrari showed an impressive financial report on June 30th gaining +19.6% (or 1,080 million Euros) for the revenues plus an 11.8% increase for the first two quarters of 2010 based on the 3,577 units delivered to the network.

The exceptional performance was mostly from the two 12-cylinder-limited series’ highly successful sales in the same year. One of which is the SA Aperta and the other one is the 599 GTO Ferrari. The 8-cylinder models also made an impressive performance on the records with Ferrari’s 458 Italia and the GT California.

Since September, all Ferraris were built under its new Tailor Made Programme. Clients can have their Ferraris customised to express their individual taste and style. This programme offers exclusive and unique quality materials to be used on every special order. As if it were a designer suit, clients can also choose the colour and trimmings with the help of Ferrari’s designer team.

Ferrari has stressed the significance of the world of racing and road cars by coming up with its very own track model out of the Ferrari 458 Italia. In fact, Ferrari’s “Build-Your-Own” challenge has sold 176 units around the world for the GT competition.

In the meantime, the new Asia Pacific series was launched this year and was followed by a second round last Sunday in Shanghai, which was attended by more than 20,000 audience members.

Meanwhile, the recently unveiled FF series has not yet made its contribution to Ferrari’s 2011 financial results for the first two quarters. The first four-wheel drive and four-seater Ferraris had just started processing deliveries in time with Ferrari’s successful financial performance report.

At this time, Ferrari’s trading profit has increased by 19 million up to 135 million Euros. On the other hand, its net profit skyrocketed at 91.8 million Euros or 23.5%.

The company’s industrial net cash also hinted at the company’s excellent position. As of June 30th, the net cash reached over 650 million Euros in spite of Ferrari’s heavy investments on product development.

This is an extraordinary achievement within the 6-month operating period considering the 222 million Euros net cash flow available prior to the distribution of dividends.

As for the sales, North America has kept its position as Ferrari’s number one market. A total of 939 vehicles were delivered in 6 months that resulted to its 23.2% increase in sales volume as compared with what they had in the previous year. Higher volumes were also recorded in Taiwan, Hong Kong and Mainland China reaching a total of 378 car deliveries in the first two quarters. This shows an impressive +116% than 2010’s performance.

It goes without saying how the Asian market is now next to Germany with the highest volume of sales worldwide. In fact, the German market had kept the same record as last year with only 337 new Ferraris delivered. In the meantime, the UK market is also following closely with 289 car deliveries in the first 6 months of 2010.

Press Release

Ferrari introduces an exclusive new customer care service with the free seven-year Ferrari Genuine Maintenance Program

Ferrari North America is happy to announce a new customer care service: clients ordering a 2012 Ferrari California, 458 Italia or FF from the authorised dealership network will be entitled to a free seven-year scheduled maintenance program.

Genuine Maintenance is Ferrari's exclusive service that ensures that its vehicles are maintained to the highest standards to meet the company's strict requirements for safety, performance and reliability. The program is unique – this is the first time an automobile manufacturer offers such coverage and is evidence of the attention paid by Ferrari to ensuring its clients enjoy the maximum peace of mind. The Genuine Maintenance program covers each individual vehicle, and thus extends to any eventual subsequent owner during the entire seven-year period.

The program covers the scheduled maintenance labour at standard service intervals (12,500 miles, or once a year, with no restriction on total mileage) along with the relative genuine spare parts, and approved lubricants. The advantage to the owner is the assurance that the vehicle will be subject to regular annual inspections by Ferrari-trained personnel using Factory-
approved dedicated diagnostic equipment.

This service will be progressively available in all Ferrari markets in the next few months and will involve the global authorized dealership network.

With the introduction of the Ferrari Genuine Maintenance seven-year program, the Prancing Horse continues to set the standard throughout the industry for customer care.

FERRARI CELEBRATES BEST SIX MONTHS IN ITS HISTORY IN TERMS OF REVENUES (+19.6%) AND CARS DELIVERED 3,577 (+11.8%)

- Net profits of 91.8 million Euros (+23.5%)
- Record industrial net cash of over 650 million Euros
- Exceptional results in the USA (+23%) with China (+116%) now second largest market
- Success too for the 458 GT and Challenge: 176 sold for racing worldwide

Maranello, 27th

July 2011 – The board of directors of Ferrari S.p.A. met today under the chairmanship of Luca di Montezemolo to examine the company's financial results for the first six months of 2011.

On June 30th, Ferrari recorded excellent financial results with two indicators reaching record levels: revenues of 1,080 million Euros (+19.6%) and 3,577 cars delivered to the network, an increase of 11.8% over the first half of 2010.

These results come thanks to the success of the two 12-cylinder limited series - the 599 GTO and the SA Aperta - and the strong performance of the 8-cylinder models with the California the standard-bearer in the GT sector and the 458 Italia the benchmark in the sports car area.

100% of the Ferraris built were personalised by clients who will also be able to avail of the new Tailor Made programme from September. This innovative programme enables clients to create an individual car, using exclusive and unique materials, colour and trim with the support of a dedicated team, just as if it were a bespoke suit.

Ferrari underscored the traditionally close links between its road cars and the racing world with "track" versions of the 458, of which 176 were sold for GT competitions across the globe and the Ferrari Challenge one-make series. In fact, this year saw the introduction of the new Asia Pacific series to the latter with round two held last Sunday in Shanghai in front of 20,000 spectators.

The FF hasn't yet made any contribution to the company results. Deliveries of Ferrari's first four-wheel drive four-seater have only just begun but the car's unveiling met with great success on the various markets.

Ferrari's trading profit grew by 19 million to 135 million Euros, while its net profit jumped by 23.5% (91.8 million Euros).

The company's industrial net cash position is also excellent, having reached in excess of 650 million Euros on June 30th. This record figure was achieved whilst continuing to invest very heavily in product development, and with a net cash flow for the first half amounting to 222 million Euros before dividend distribution, an unprecedented achievement in any six-month operating period.

With regard to sales, North America maintained its position as Ferrari's no. 1 market with 939 vehicles delivered during the six-month period, an unprecedented leap of 23.2% vs. 2010. Volumes were also higher in the Greater China region (Mainland China, Hong Kong and Taiwan) with 378 vehicles delivered in the first six months (+116% vs. 2010). This performance means that the main Asian market is now Ferrari's second largest worldwide, overtaking Germany where volumes remained the same as last year with 337 cars delivered.

There were also impressive results in the UK where deliveries rose sharply by over 50% up to 289 cars, while other nations are in line with the first half of 2010.

"If the trend for the first six months continues at these levels in the second half of the year, 2011 will be remembered as one of the best in Ferrari's history, taking us back to the record results of 2008. This is a demonstration of the soundness of the strategy we've adopted in terms of market expansion and constant product innovation," commented Luca di Montezemolo. "Furthermore, we also recently began deliveries of the new FF and we're taking our first orders from India – the impact of both of these factors will only be seen in the second half of 2011."

The news from Ferrari's brand activities is also positive: retail grew by 45%, thanks in part to new openings that take the total number of Ferrari Stores worldwide to 46. Topping the rankings in that regard is the Store in the Ferrari World theme park in Abu Dhabi which recently welcomed its 600,000th visitor.

On the licensing and sponsorship fronts, contracts with strategic partners such as Puma were extended in the first six months of 2011 too.

Ferrari is also very much involved in online activities. Aside from the ongoing success of the www.ferrari.com website, our social network presence continues to grow. Ferrari's official Facebook page now has almost 5 million friends and our online sales have increased by 40%. The latest news is that a new digital version of the Ferrari Official Magazine has also been released.

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