Ferrari chairman Luca Di Montezemolo to quit after 23 years

+1

 

Luca understood how to balance business and passion -- more than that he understood how passion could make for high profitability. He expanded the market for Ferrari cautiously and deliberately -- consider the California and the FF -- offering something that a driver could not get in his SL or M6, thus bringing new customers to the fold. What we are looking at now may be very different. We will see.

 

-I buy used, so seeing Fcars depreciating is good for me. Of course is not for those who buy new, btu then again those who do have the money to do it, and usually, the FLOW of it, which is even more important.
-I might be disillusioned, but I doubt that person really cares about you and if he would really help u save money rather than being called "stealership"
-Actually maseratis have never driven better than now, try a 30 years old model if u don't believe me, technology advances.
-I don't like Mclaren, honestly
-Don't think there will ever be a Ferrari diesel, but hybrids that will be more and more efficient, that's for sure.
-God I'd kill for a Ferrari SUV
-It sounds AWESOME. I go there with 100k instead than 150k.
-Well.....depends on how many hp that Ferrari got, I guess. Keep into account that in Italy 50k euros is the average price of a 2006 Ferrari 612. Not kidding.


Then again, if exclusiveness is all u look for, and not simply FERRARI, why not go for a Pagani ?

 

This just in. Game over. Anyone want to take bets that the current Specialé production run will be extended...not even The TheFerrari will be spared...
Ferrari to Boost Production to Keep Pace With Super Rich - Bloomberg


Ferrari will churn out more cars than previously planned after Sergio Marchionne, chief executive officer of parent Fiat SpA (F), takes the top job at the supercar maker next month. Marchionne, who will become Ferrari chairman on Oct. 13, said he plans to gradually increase production of vehicles like the $1.3 million LaFerrari to keep pace with growing numbers of ultra-wealthy consumers.

“If that class increases, we should be able to follow them,” Marchionne said today at an event in Balocco, Italy. Otherwise, “the waiting list will become too long, and people get tired.”

The plan contrasts with the strategy by Luca Cordero di Montezemolo, who resigned as Ferrari chairman yesterday after 23 years following a clash with Marchionne. Montezemolo wanted to limit the supercar maker’s volumes to 7,000 cars a year to safeguard its exclusivity. Marchionne indicated in May that the brand had potential to sell about 10,000 vehicles annually.

Ferrari, based in Maranello, Italy, is 90 percent-owned by Fiat and a key component of Marchionne’s plans to expand in luxury cars following the merger to create Fiat Chrysler Automobiles NV. Montezemolo, who took charge of the unit in 1991, wanted to maintain Ferrari’s autonomous status and not become a subsidiary like Volkswagen AG’s Lamborghini.

Marchionne, who will become Ferrari chairman on Oct. 13, said he plans to gradually... Read More
“People should not underestimate the importance of Ferrari for the group,” said Marchionne. “Structurally, in terms who we are as carmaker, they have and will continue to define us.”

Financial Needs
Ferrari said today that it expects deliveries to rise 5 percent this year as it works to decrease the time customers have to wait for their cars. Its net income in the first half rose 9.8 percent to 128 million euros ($166 million).

Marchionne will take the top job at the unit the same day that shares of the merged entity FCA are set to start trading in New York. He said today that while the group doesn’t “technically” need to raise money to finance his 55 billion-euro expansion plan, FCA’s new board will review options in late October.

The CEO said today that Fiat is on track to achieve its 2014 earnings goals, helped by sales of Chrysler in North America. The Italian manufacturer is seeking to increase profit by as much as 18 percent this year.

To keep boosting earnings in the coming years, Fiat Chrysler plans to roll out more upscale models like the Maserati Ghibli sedan, which uses engines developed and built by Ferrari. While Marchionne says there are no plans to sell shares in the supercar unit, it isn’t critical to the group over the long term.

“Do I think they are essential to the configuration of FCA forever? The answer is no,” Marchionne said today. “But they represent the best of what a carmaker can be.”

 

Nor anything about an electric car. Luca said no electric Ferraris "under his watch."

 

If Fiat loses $15,000 a car on the Fiat 500E. It would be crazy to do a F 458 E.

 

7,000 is still too many IMHO. Even during the late 80's "feeding frenzy" the factory never produced more than 4,000 cars worldwide.

Joe

 

Reuters and others say that Ferrari will not be part of FCA
Fiat Chrysler CEO says no plan to fold Ferrari into FCA | Reuters
Ferrari will not be engulfed by Fiat Chrysler Automobiles

 

The lucky few hundred that ordered their LaF trusting that the company would adhere to their announced limit would be mightily pissed.

 

I am not sure. If we simply look at volume, it is a pretty big world and enough room for expansion, that is absolutely true. However, it may be about "models". For example, the previous post laying out Porsche's models. What if the 458 becamse a Panamera equivilant?. If we combine increased volume with increased models, we most likely diminishi the exclusivity that plays into the egos of many here. Seeing a Porsche stirs very few in this group (with all due respect to Porsche, and for the record I have always kept a model of one or another in my garage for decades). Best

 

I never said or implied "Sergio is the answer", nor would I ever suggest he is the "new Enzo."

I'm saying LdM was NOT the answer anymore and I'm very, very pleased that he is gone. Ferrari needs to change and the odds of that happening have vastly improved this week.

 

Sergio won't do that. He's going to subcontract more stuff out of of the factory and use other Fiat facilities.

Here is Sergio's priority list

Chrysler
Jeep
Fiat
Maserati
Alfa
Ferrari

Why is Chrysler on top? Because that was his deal. If Chrylser fails, he's out. He'll do whatever he can to make sure that won't happen at the expense of the Italian brands.

Look for more ads of Chrysler products using "Ferrari" parts and "Ferrari" technology.

Look for special "Ferrari" edition Fiat and Jeep models

Look for an all electric "Ferrari"

This is Ferrari's future.

 

10,000 production is just fine. Still the top 5% are the ones who can afford brand new super cars. Most people are looking this on a jealousy standpoint "to see more successful owners on the streets" than anything else.

 

Special talent for bull****s, haven't you?

1) LdM was the one who decided to introduce the 6k cap production
2) which automakers (supposedly Ferrari competitors) are producing 20k of unit per year?
3) only Alfa 4c is built at Maserati (not difficult to understand why)
4) "unused capacity" and "under employed workers": these should be the reasons to increase Ferrari's production??? ahahahahahaha, genius
5) Ferrari would be plenty rare at 20/30k per year: oh yes, it would be still plenty rare at 200k/300k per year for 99,9% of the population (!)
6) about the Dino I invite you to read some Ferrari history from the 70' and 80' to understand some unforgivable mistakes were made (gt4, 208 turbo,...)
7) signing off about the rest which is a real meaningless bla bla bla

 

Obviously Svito knows his Ferrari and the top tier of owners who are the driving forces that make the brand what it is...who needs those crummy custom Ferrari P4/5 things, anyway...lol

 

+1

Oh dear!

Goodness gracious.

Little surprised he hasn't had the hammer fall yet.......

Cheers,
Ian

 

Yah well it's a rather well known fact here that someone has had a personal running feud with LDM.

As usual, Fchat is better served with a grain of salt.

I do agree that the caps are artificial. I also agree that LDM had his good parts and pretty terrible parts. But to hand the brand over to the head of Ferrari USA and Sergio will be a huge step backwards for current owners. Any hope of changing the old boys club can forget it. Any hope that diluting the brand will stop is certainly out the door. Any idea that the F1 team will be a sporting team geared to winning and not a marketing tool happy enough to spend the least just to go around a track is gone.

I don't mind LDM going. What I object to is the new team taking the worst and putting it into overdrive.

 

I have had something else falling recently.... a big piece of glass on the rear bonnet of my Ferrari.
I guess it must have been like an omen.....

 

If 9 out of 10 of the most expensive cars recently traded are F E R R A R I it is due to those crummy driving forces who make this brand what it is. Dot.

 

48 hour ban for spamming this thread with your complaint. All posts deleted.

An add-on warning about flaming another user.

 

Hi, Svito, you're new, so you might know know you can hover your cursor over the screen name of the poster (in this case, Napolis) and then click on their personal profile. I didn't know that until I accidentally found out one day, and it helped me get a sense of who else was posting on the board.

Sometimes, this also allows the user to find out really interesting things about the people with whom they are chatting. Other times, not as much. You'll even find some users post links to websites that could be relevant to their understanding of Ferrari, maybe even the cars they happen to own.

I'd encourage anyone who may find a particular post objectionable to do something like that prior to teeing off with $#**%$ or similar verbiage.

 

Gee, Yin, and I was so proud of the deftness of my post written while yours was enroute...

 

Sorry, one person's view is not everyone's view. It's a forum, not someone's personal facebook page.

 

The poster was rude Hence banned So what's your gripe ?

 

No, I agree with the ban. It was totally inappropriate what he said and what he as doing. (although I think rule 1.1 could be used for 1000 posts a day) .

But one billionaire with a grudge does not speak for all of us either. We all should have equal voices.