Ferrari to cut output by 4% this year to preserve brand exclusivity

Article by Anita Panait, on May 9, 2013

Italian carmaker Ferrari will reduce production by at least 4 percent to less than 7,000 vehicles in 2013 despite growing sales to preserve the brand’s exclusivity, chairman Luca Cordero di Montezemolo disclosed. Ferrari’s chairman said that the move would still allow the carmaker to continue to flourish amid an uncertain global economic outlook.

He remarked during a press conference that "the strength not to listen to people who say 'your competitors will benefit from this'” is a choice he learned from founder Enzo Ferrari. He said that the founder used foresight in enhancing the value of the brand. Ferrari’s latest move is also meant to protect the resale value of its vehicles.

Ferrari's entry-level California model has a starting price of EUR185,000 in Italy while the range-topping 12-cylinder F12 carries a tag of EUR272,000. Ferrari sold 7,318 cars in 2012. Montezemolo remarked that Ferrari's decision to cut production was "shared" with its main shareholders, and comes despite a growth in revenue of 4 percent to EUR551 million in the first quarter.

The Italian carmaker posted EUR80 million in earnings before interest and text in the first quarter of 2013, after selling around 1,798 cars in the period. N

et profit for the period was EUR54.7 million. Montezemolo noted that the company reduced output of high performance sports cars in 2003 for similar reasons. Ferrari’s chairman said that the brand's value allowed it to earn EUR52 million in revenues from 60 merchandising licenses of Ferrari-branded clothes, toys, watches and other items in 2012. He noted that “95 Ferrari-branded items are sold every minute around the world."

An outstanding new engine, unprecedented handling, and pioneering design and aerodynamics are the features that come with the latest generation of Ferrari 12-cylinders, all of which can be found in the Ferrari F12berlinetta.

Since 1947, Ferrari has always remarkably introduced 12-cylinder sports cars. Probably due to the fact that the very first release, the 125 S, was a 12-cylinder which perhaps led the purists to set the 12-cylinder as the gold standard. Given this, Ferrari's launch of cars of this type always introduces the birth of a new era. Maranello, with its technological expertise known to provide results, has a rich automotive history as evidenced by production of various 12-cylinder cars.

For example, the 1953 375 America had its engine patterned after the F1 single-seater of the day. The 250 GTO, released in the 1960s, was the perfect combination of design and performance. Not to mention the 1969 Ferrari Daytona, also known as the 365 GTB/4, which offered an extraordinary driving experience due to its cleverly balanced structure.

Collectors worldwide have ardently sought after these engines and automobiles. Each of the cars has constituted to a massive step forward after it has been launched. Even today, the launch of Ferrari's latest mid-front 12-cylinder model, the F12berlinetta, has made it the pioneer of a new generation of this type of car. With the perfect fusion of top-notch performance with standard efficiency, decreasing its fuel consumption and emission levels to 30% less than its predecessor, the F12berlinetta is the greatest high performance ever assembled by Ferrari.

To build a front-engined car with extreme performance that can still provide similar pleasure and involvement while driving at lower speeds has been challenging and grueling for engineers and technicians especially if it meant improving the most stunning Ferrari ever, the 599 GTB Fiorano. Thanks to their dedication and perseverance, Ferrari design teams have created a car exhibiting an outstanding new 740 hp mid-front V12 engine that can generate 690 Nm of torque.

Topics: ferrari, production

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