[NEWS] Ferrari cuts jobs and idles plants

That is bad (and sad) news...

 

What a bummer, I thought the Masers were doing pertty well, not that I ever look at any official figures though.

 

Even though Ferrari’s margins are very high, they wanted to do better,” said Massimo Vecchio, an automotive analyst at Mediobanca SpA in Milan. “The recovery is moving very slowly.”

I would be pissed off if I lost my job and this was the reasoning behind it.

Ferrari is slashing 2010 production targets to 11,000 vehicles from 20,000, Fiorani said. Ferrari never planned to make 20,000 cars this year and will maintain production at about 6,000 vehicles, similar to last year’s output, Lai said

Why have a target of 20k if you never intended to porduce 20k, and if you only sold 6.5 k last year?

It all seems a bit odd but maybe that is part of Ferraris mystique

 

It seems maybe they got the old addage of "under-promise and over-deliver" backwards??

 

Math is funny. It never lies.

What do these figures tell us?

Ferrari US Sales 4/10 117 4/09 116

Ferrari YTD 10 419 YTD 09 401

Maser US 4/10 186 4/09 108

Maser US YTD 10 580 YTD 09 355

Maser is the problem?

I don't think so...

 

The dealers keep 'lists' because they can't get cars for customers and Ferrari slashes production because there is not enough demand for it's cars. Something doesn't add up...
CH

 

The lists are getting shorter?

 

I would assume all of the purist/exclusive brand/low-production/elitist Ferraristi are jumping for joy over this:

"Ferrari is slashing 2010 production targets to 11,000 vehicles from 20,000, Fiorani said. Ferrari never planned to make 20,000 cars this year and will maintain production at about 6,000 vehicles, similar to last year’s output, Lai said."

Seems like a blessing in disguise to me, an opportunity for legacy values to remain strong in 20 years hence.

 

Corporate press releases are the PR version of the truth. I suspect behind this whitewashed release, there is more blood to be spilled.

 

LOL!

The 458 didn't arrive "in time" maybe....

And you'll note no one is mentioning the other production models in the article.

612
599 (all variants)
California

Tough times in a niche product market place.....

 

Cutting production... they're inflating the pre-owned market!

 

Ferrari has been trying, with great difficulty, to maintain a rosy picture for that brand even to the point of throwing Maser under the bus. When my clients (most of whom are not on Ferrari's "A" list because they come to me) get cold called to buy a new Ferrari sitting on the floor at sticker, all ain't well. Also from what I understand some of what would be normally allocated to the US is being diverted to other markets. It seems they have fewer qualms discounting inventory in lesser markets but do not want to show that face of the situation to a market as important as the US.



We're not in 2007 anymore Todo.

 

The beautiful 16M at the Italian Industry Trade Show here was indeed available....FoH had been offered it, above their allocation....

I felt into my pocket, but was $317K short......I got a Ducati instead....

 

At least not in the US.

Brand management is what Ferrari does best. Building cars is probably 4th or 5th on the list of things they do well.

 

Doesn't take a genius to look at mobile.de + ebay + autotrader and see the amount of Ferrari's for sale, some have been sitting without takers for years. Eurozone + US are facing massive debt problems in the years forward that will push up interest rates and make even the rich afraid to go out and splurge. Not to mention a huge % of the sales were most likely credit driven which will dry up.

 

http://www.youtube.com/watch?v=5UHUrUYkbJA

 

that's a shame but totally understandable

 

roger that. And there's relatively no overhead or liability w/ Ferrari Barbie; she's a money machine . . .

 

"Things can't be bad the next 3-4 years, they are going to sell every single 458 they make a year ahead of time at MSRP + long expensive list of options."


That was the 360 and 430 world. I think the game has changed, but we'll see. It was easy to pull the trigger again and again in a world with little or no depreciation.

 

Ducati makes cars?

 

We must go to different Dealers.