News: Expectedly: Ferrari Sales Hit Hard by Credit Crisis

Homer_Bart

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Times are tough for virtually all automakers due to the current financial crisis and it now appears that one of the world's most prestigious sports car makers isn't immune to declining sales. Ferrari has reported that their monthly global sales for November totaled 92 cars compared to their normal average of 600 a month.

The company has decided to take action by cutting its workforce by 10 percent and starting talks with trade unions to eliminate additional employees. This could potentially result in more than 300 people being laid off by the end of the week, with the chance of more layoffs in the future if market conditions fail to improve. Production at Ferrari's Maranello plant will also be stopped for 20 days during the upcoming Christmas holiday in order to keep vehicle inventory in check.

Perhaps the oddest thing about Ferrari's situation is that the company currently has a two-year waiting list but in some markets unsold cars are starting to pile up, particularly in the United Kingdom. Ferrari's chairman, Luca di Montezemolo, had previously stated that the company wouldn't feel the pressure from the economic crisis, as a decline in sales in one market would free up cars for markets with higher demand and long waiting lists.

According to sources sales of the 612 Scaglietti and 599 Fiorano have essentially flat-lined, and sales of the volume leader F430 have all but disappeared thanks to the unveiling of the similarly priced Ferrari California.

A company spokesperson attempted to dismiss the reports countering that luxury vehicle sales typically decline towards the end of the year and that Ferrari's US sales have only slowed a little. However they did admit that the company currently has a vehicle stockpile in the UK and the introduction of the California has put a serious damper on sales of the F430 Spider.

Source: AutoCar
 
Bullshit. They have 12,000 buyers for the California already.
 
Bullshit. They have 12,000 buyers for the California already.


Those aren't sales until they move the car. I wonder how many of those 12,000 buyers still have the money...

What is worse isn't the downturn in sales. It is the possibility that they have cannibalized their own vehicle portfolio.
 
November really isn't the hottest month to buy a Ferrari in... The article says average 600 cars/month, but it doesnt say, for instance how many cars Ferrari sold last November. I mean, I wouldn't buy one at this time of year because I wouldn't get to drive it till spring..

Sounds like bullshit reporting to me.
 
Those aren't sales until they move the car. I wonder how many of those 12,000 buyers still have the money...

They've already paid for most of the car. You have to make a committed payment to get your name on the list. Most people probably already paid it off completely. Ferrari won't put your name on the list until you give them money.

The California is sold out until 2011.
 
November really isn't the hottest month to buy a Ferrari in... The article says average 600 cars/month, but it doesnt say, for instance how many cars Ferrari sold last November. I mean, I wouldn't buy one at this time of year because I wouldn't get to drive it till spring..

Sounds like bullshit reporting to me.


Funny thing. It is 70 degrees outside and sunny. I was just thinking how nice it would be to have a Ferrari California right about now.
 
Accoding to a local newspaper, Hong Kong sold 94 Ferraris in November.
Well then again they didnt say ho wmany where sold last november.....
 
The thing about such niche vehicles is that most of the cars are usually custom ordered so the company isn't swamped with an overload of unsold cars, all they produce is the run of the mill cars that get sent to dealers. This usually cuts down on production costs and therefore the company isn't so much in the red. I'm not sure if it still works like this but it is a concept that worked.
 
The the waiting list for my Scuderia is now less than 2 years long? Great news...!
 
Funny thing. It is 70 degrees outside and sunny. I was just thinking how nice it would be to have a Ferrari California right about now.
Funny thing, my testicles just dropped off. I was just thinking how nice it would be to have a Ferrari California right about now.
 
Funny thing, my testicles just dropped off. I was just thinking how nice it would be to have a Ferrari California right about now.

What's that squeak, I can't hear you! :lol:
 
as expected, above article is BS. Everything is fine, they are not firing anyone.

The Italian automaker today rebutted media reports of its financial instability, insisting that not only is the company operating within expected parameters, but that everything is fine in terms of sales despite the global slowdown.

A report yesterday by Autocar claimed an inside source revealed Ferrari would be cutting up to 300 jobs by weeks end as part of a drastic cost-savings measure to keep the company afloat.

Today's statement from Ferrari, by way of MotorTrend, reveals that that is - at least for the moment - patently false. No such announcement has been made, and though a contractual analysis is ongoing within the company, the reaction by leadership to the erroneous reports serves as an indicator that no such firings will take place.

Sales at the company are somewhat slower than last year, but 2007 was a strong year for the company, and 2008 has been universally bad for the car business as a whole. Coming up about 120 vehicles short of 2007's year-to-date tally with 1,482 vehicles sold in 2008 puts sales down about 7.5% - pretty good, all things considered. Ferrari says that F430 sales in particular are going well, though spider models are understandably slow as the Northern Hemisphere heads into winter.

Finally, the planned production holiday is within normal ranges, with the company claiming it's simply taking advantage of the proximity of the weekend to the holidays this year. The extra time off isn't related to an overflow of unsold stock, says the Ferrari source.

The recent reveal of the California convertible hardtop and the Scuderia Spider 16M offer somewhat independent indicators that as recently as last month Ferrari was confident enough in its current position to launch two brand new models - something most brands elect to delay during hard times.

http://www.motorauthority.com/ferrari-responds-to-rumors-of-financial-trouble-were-fine.html

Btw, I am very secure in my sexuality and I would love a California!
 
I'd fucking love a california, you can laugh all day, but what it would sound like is:

"Lol, what a loser, he's got a new convertible Ferrari" :)

I've got a T-top v8 camaro fool, i have absolutely no automotive shame!
 
I'd fucking love a california, you can laugh all day, but what it would sound like is:

"Lol, what a loser, he's got a new convertible Ferrari" :)
You're paraphrasing.

"Lol, what a loser, he's got a new convertible Ferrari designed for girls." :p
 
I'd fucking love a california, you can laugh all day, but what it would sound like is:

"Lol, what a loser, he's got a new convertible Ferrari" :)

The only problem with the California is that the V8 Vantage Roadster exists.
 
And the fact the California is so hideously ugly.

...and expensive, ...and slow, ...and heavy, the list goes on.

Ferrari is fine, just some scandalous press idiots trying to make a story. Nothing to see here, move along.
 
...and expensive, ...and slow, ...and heavy, the list goes on.
dude, I think there is a police regarding posting when you are under the influence of alcohol/drugs....

The California has a top speed of 310 km/h (193 mph) and it can accelerate from zero to 100 km/h (62 mph) under 4 seconds.[1] Although 285 kilograms (628 lb) heavier and 30 PS (30 hp/22 kW) less powerful than the mid-engined Ferrari F430, the California reaches 60 mph (97 km/h) in the same time as the F430 thanks to the dual-clutch transmission.
 
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