Discussion in 'Entertainment, Culture, and Sports' started by idfnl, Feb 6, 2012.
I dont mind the ban on giving drivers instructions. Odd they made it an immediate change though
Ferrari may have brand recognition, but Porsche is eating it's lunch and so is the Audi/Lambo combination.
And who cares about Maserati... they haven't made a decent car in like 40 years.
Stupid because it will never work. Now they can't say "push Jenson" and will develop code words. The FIA is so idiotic.
Ferrari profits soar despite reducing car production numbers
By Henry Foy in London
Ferrari recorded record revenues, profits and cash flow in 2013 despite intentionally selling fewer cars, as the Italian supercar manufacturer looked to improve its exclusivity and ratchet up tertiary sources of income.
The carmaker, famed for its roaring engines and prancing horse logo, said net profit rose 5 per cent despite a 5 per cent fall in car sales, as it was named the world’s most powerful brand for the second straight year by consultancy Brand Finance.
Ferrari’s success in increasing profits while lowering production runs counter to Europe’s struggling mass-market car industry, wallowing in the region’s worst car market for two decades, and underscores the clamour among manufacturers to increase their presence in the growing and lucrative luxury market.
“Despite fewer cars last year, we have improved all the numbers in the financial results,” president Luca di Montezemolo told the Financial Times.
“Exclusivity for me is the most important thing,” he said. “The quality of the sales is more important than the quantity.”
Ferrari would continue to maintain or further lower its 2013 production this year, Mr Montezemolo said, adding that they could restart production growth in 2015.
The Italian carmaker, majority owned by Fiat, said revenue in 2013 rose 5 per cent to a record €2.3bn, despite a fall in sales to 6,922 cars.
Ferrari posted net profit of €246m, up 5.4 per cent on 2012, on a 8.3 per cent rise in trading profit to €363.5m.
The company’s net financial position at the end of 2013 of €1.36bn is also the highest in its history, despite an increase in research and development spending.
“Making fewer cars but more money is an easy thing to say but hard to do,” Mr Montezemolo said in an interview.
“But I want to keep Ferrari exclusive. And I want to maintain the value of the used cars on the market. This is very important . . . For me, Patek Philippe and Hermes are the important benchmarks.”
Exclusivity for me is the most important thing. The quality of the sales is more important than the quantity
- Luca di Montezemolo, Ferrari president
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, and sales of licensed products such as Ferrari-branded watches and footwear.
The company made profits of €54m from its brand-related businesses last year, and direct retail of merchandise increased 19.3 per cent, on a like-for-like basis.
Every single one of its new cars sold last year were personalised as part of Ferrari’s lucrative “Tailor Made” initiative, the company said.
So Vettel to leave Red Bull... Wonder where he's going? None of the articles I've read have said anything.
It can only be a good move for him...
I have heard Alonso is going to McLaren...
Horrible way to end a race.
Thoughts are with Jules.
It looks like his life is in the balance..
Awful piece of news. When will they finally retrofit the vehicles that remove the cars so they can't be submarined?
I read he was in surgery. The whole idea behind waved yellow flags needs to be reconsidered. Perhaps there needs to be a button to limit speed in the affected area and a driver must use it. He clearly misjudged the conditions and came in too hot. I didn't see the video of his crash, has anyone?
Lastly, and not the best time, but when it is? Vettel is indeed running away, no other way to look at it. He's been getting smoked all season and probably sees Kimi as another Webber he can kick around. I think Vettel's real speed has been exposed. Strange decision for Ferrari, would you want him if you can see clearly he's not the quickest driver you can hire?
I don't know what I did, but it seems that I edited your comment...
I haven't seen the race, can you guys comment on whether it should have been cancelled altogether?
I don't think so. The start time could have been moved up.
Those wet weather tires and a raised ride height would have made it safe to race.
de Cesaris killed in motorcycle accident in Rome: http://www.autosport.com/news/report.php/id/116184
A sad day for the Racing community..
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