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NEWS ARCHIVE

2005 a big year for Ferrari

FXX F430 Challenge

Last year was an important year for Ferrari both in terms of the company organisation, commercial successes and the new products it unveiled. In April, the Ferrari Maserati Group was split out and ownership of Maserati was transferred to Fiat in order to allow the Trident to establish a closer technical and commercial relationship with Alfa Romeo, particularly on the major international markets. Nonetheless, Ferrari and Maserati continue to collaborate on an industrial level, and with regard to technical projects, engines and sales network.

At the end of July, Mubadala, an Abu Dhabi government investment group, acquired a five per cent share in Ferrari from Mediobanca and was immediately committed to being an extremely reliable and stable partner with a range of exciting new business strategies to share. In early November, Ferrari and Aldar, an Abu Dhabi real estate company, announced an exclusive agreement to develop an innovative and exciting Ferrari Area in Abu Dhabi themed around the Ferrari brand.

In October, a few important changes were announced in the Sales Organization. The American branch, led by Maurizio Parlato, is now responsible also for the countries of Central and South America. The creation of a new Sales Department was also announced for the Asia-Pacific area. This region covers a total of 13 markets, amongst which are Japan, China, Australia and Hong Kong. The region has enormous potential for development and is extremely strategic for Ferrari which envisages commercial successes in coming years.

In 2005, Ferrari set a new sales record with well over 5,000 vehicles delivered. This historic threshold was crossed thanks to the performance of the F430 in the berlinetta and Spider versions, and the 612 Scaglietti with 834 units delivered. Even the Superamerica limited series (559 cars built and sold out in few months after its presentation at NAIAS 2005) also made substantial contributions to this achievement.

North America (with an increase of approximately 8% over vehicles delivered in 2004), Italy, United Kingdom and France were all especially significant in terms of the positive evaluation of the past year. Important contributions were also made by new and developing markets (Middle East +41%, Eastern Europe +92%, South America +36%), which generated a substantial increase in volume without compromising the exclusive character of the brand. In China, with a brand new commercial network, Ferrari delivered 82 cars (about +100% vs year 2004).

For Ferrari, the commercial successes that characterized this past year translated into a turnover and an operating result that predict a significant improvement over the previous fiscal year.

Power Service Contracts for New and Certified Pre-Owned Ferrari Sports Cars
To provide peace of mind and reassurance to owners of both new and pre-owned Ferrari sports cars, Power Service Contracts are exclusively available from authorized Ferrari dealers. These comprehensive service contracts provide benefits similar to an extended warranty. Available in three different packages, the Power Service Contracts will cover selected components on vehicles up to ten years old. In 2005, the security of the Power Service Contract contributed to an almost 30% increase in sales of pre-owned Ferrari sports cars at authorized dealers.

FERRARI IN NORTH AMERICA
2005 marked Ferrari North America's 13th consecutive year of sales growth. The year ended with approximately 1,550 units retailed with an increase of 8%. Outstanding products, an upgraded dealer network and an ownership experience unlike any other have been the primary drivers of this extraordinary span of growth.

North America is the most important market for Ferrari, representing approximately 30% of the marque's worldwide sales. Ferrari's top car market in North America is California, which accounts for 27% of sales, followed by the Northeast with 16% of sales, Florida with 11%, Texas with 7% and Chicago with 6%.

The Ferrari dealer network grew in 2005, expanding to 36 dealers (32 in the United States, four in Canada) with the addition of two recently opened locations in Silicon Valley, California, and in Las Vegas, Nevada. Existing dealers have also made significant investments in upgrading their facilities and improving their processess. In fact, the dealer network has collectively invested approximately $75 million in recent years. In 2004, Ferrari North America opened a showroom on 410 Park Avenue in New York City to showcase its extraordinary products in one of America's most prestigious locations.

In order to strengthen and consolidate Ferrari's presence in Central and South America, Ferrari S.p.A. has given responsibility to Ferrari North America for countries in this region effective January 1st, 2006. Argentina, Brazil, Chile, Mexico, and Venezuela are the key markets in this area and Ferrari is represented at twelve sales outlets. This consolidation is expected to strengthen the network and improve customer satisfaction.

Ferrari North America Inc., located in Englewood Cliffs, New Jersey, is headed by Maurizio Parlato, President and CEO, now in his fourth year at the helm of Ferrari's largest market worldwide. Ferrari North America is the sole authorized importer and distributor of Ferrari sports cars in North America and is responsible for all organization and operating requirements for the marque in the United States and Canada, including the technical training and spare parts service. Ferrari North America has a retail facility on the West Coast of the United States, Ferrari of San Francisco.

© italiancar.com.au 16/01/06