Pininfarina needs some dough... | FerrariChat
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Pininfarina needs some dough...

Discussion in 'Ferrari Discussion (not model specific)' started by bitzman, Oct 18, 2009.

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  1. bitzman

    bitzman F1 Rookie
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    Feb 15, 2008
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    Ontario, CA
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    wallace wyss
    #1 bitzman, Oct 18, 2009
    I am surprised Pininfarina needs money. But according to Motor Trend

    "Report: Family to Sell Majority Stake in Pininfarina Operations; Is Tata Buying? 27015822
    2008 Geneva Motor Show Photos & Coverage - Part 1 25256988
    Karl-Heinz Kalbfell - Interview 24967366
    Pininfarina will sell its Grugliasco plant in Italy in order to streamline its operations and cut its staffing costs by 50%, Automotive News reports.

    The plant currently produces bodies for the Alfa Romeo Brera and Spider, as well as the Ford Focus Coupe Cabriolet. Financial holding company FinPiemonte Partecipazioni will buy the factory for 15 million euro and immediately rent it to a manufacturer called Innovation in Auto Industry (IAI) for 650,000 euros annually."

    I wonder if PF would even sell their stake in Ferrari? I presumed they needed that in order to help steer future body building contracts to their own firm (well, they don't have to worry about Bertone or Zagato anyway, no production capacity).

    More important for collectors, will they dump all the cars in thier collection? If Glickenhaus could get the Competitzione Dino maybe everything's for sale. It looks to me like the PF family wants to take the money and run...
     
    Johnny Boys likes this.
  2. AceMaster

    AceMaster Three Time F1 World Champ

    Feb 6, 2009
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    Mike
    #2 AceMaster, Oct 19, 2009
    That is a surprise
     
  3. Rory J

    Rory J Formula 3

    May 30, 2006
    1,133
    #3 Rory J, Oct 19, 2009
    The entire coachbuilding industry is in trouble -- a situation that has been present for some time now. Bertone has just sold its production operations to Fiat, Karmann has gone under restructuring and has ceased building cars, and PF has been bleeding money for years with high operating costs and dwindling design and production contracts. With the entire automotive industry hurting, there is little money left in automaker's budgets to be farming out styling and production to 'designer' coachbuilders, hence a major decline in business for virtually all of them.

    I believe that worker's unions may be another thorn in the industry's side in Italy -- keeping thousands of workers on full salary even when there is no work to be done.
     

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