Ferrari soars in profit numbers despite fewer sales

Ferrari’s policy of restricting the number of cars that they sell has worked well in their favour. This strange-sounding decision of the Italian car manufacturer was a deliberate attempt to retain the brand’s exclusivity. Ferrari’s out-of-the box thinking has clearly helped them rake enormous profits in the financial year 2013.

The car maker famed for its roaring engines claimed that their profit rose to 5 per cent this financial year, thus helping them amass a net profit of Rs 19,458 crore approximately. These results were achieved despite a 5 per cent reduction in the number of cars that were put on sale in 2013.

Addressing the media, Luca di Montezemolo, President, Ferrari, says, “Despite the sale of fewer cars last year, we have improved all the numbers in the financial results. Exclusivity for me is the most important thing. We wanted to maintain a high level of exclusivity in designing amazing products such as the LaFerrari, the 458 Speciale and the just launched California T.”

Ferrari cars have a two-year waiting list in the US, despite record deliveries to that market last year. The manufacturer, which also runs the Scuderia Ferrari Formula 1 racing team, has in recent years increased its value-added offerings, such as personalised car interiors. Ferrari has also been adjudged as the world’s most powerful brand for the second consecutive year by a London-based brand valuation consultancy, Brand Finance.