Ferrari saw operating profits rise 8% in 2013, despite a 5-percent fall in deliveries

Article by Anita Panait, on February 23, 2014

Ferrari posted an 8-percent rise in earnings before interest, tax and one-time items in 2013 to EUR363.5 million, helping cut a chunk of parent Fiat Chrysler Automobile group's losses in Europe in the period. Ferrari logged a 5-percent leap in revenue in 2013 to a record EUR2.3 billion ($3.15 billion), despite a 5-percent fall in deliveries to 6,922 units.

Ferrari cut output in 2013 to maintain the exclusivity of its cars. Brand Finance recently ranked Ferrari higher than other top consumer brands like Google or Coca-Cola. According to the agency, the luxury carmaker logged high scores on a variety of measures, like desirability, loyalty, consumer sentiment, visual identity and online presence.

Brand Finance, however, noted that being the most powerful brand does not make Ferrari the most valuable since it is a niche luxury brand that has imposed a limit on production to protect its uniqueness.

The Ferrari brand is valued at $4 billion, placing it 350th in brand value terms, Brand Finance said. "The prancing horse on a yellow badge is instantly recognizable the world over, even where paved roads have yet to reach," Brand Finance chief executive David Haigh said.

"Ferrari inspires more than just brand loyalty, more of a cultish, even quasi-religious devotion." In response to the ranking, Ferrari Chairman Luca di Montezemolo, said they are proud to be representatives of the 'Made in Italy' label. Ferrari will showcase its latest new model -- the California T -- at the 2014 Geneva Auto Show.

Topics: ferrari, profit

If you liked the article, share on:

Comments

Recommended

Without a doubt, the SUV segment is getting increasingly more saturated. This month alone, we were greeted with city-oriented SUVs from the Kia Stonic to the Hyundai Kona, and now...
by - June 27, 2017
The Swedish moose test is known to have victimized many in the past, including the Toyota Hilux that massively failed. So knowing that many cars from trusted and leading automakers...
by - June 27, 2017
All-new BMW X3 (G01) just made its debut! The updated model has a familiar design, and slightly increased dimensions compared to its successful predecessors. For more cabin space, the wheelbase...
by - June 27, 2017
Polestar is notably known to be Volvo's internal performance specialists, and around last year Polestar revealed to the public that it will utilize electrification to further advance the power of...
by - June 26, 2017
Earlier this month, Porsche introduced to us the 911 Turbo S Exclusive Series. The car wore a Golden Yellow Metallic paint. The same time it was launched, the company said...
by - June 26, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries