/Luca di Montezemolo on Ferrari’s Future: Must Remain Exclusive

Luca di Montezemolo on Ferrari’s Future: Must Remain Exclusive

ferrari formula 2013 600x387 at Luca di Montezemolo on Ferraris Future: Must Remain Exclusive

At the Formula Ferrari event in Maranello, the chairman of the Italian super car maker Luca di Montezemolo addressed more than 250 members of the media, and talked about the future plans of his company. He also announced Ferrari’s financial results for the first quarter of 2013.

So far in 2013 Ferrari has sold a total of 1,798 road cars, an increase of 4% on the first quarter of 2012, which means revenues increased by 8%, up to €551 million. Trading profit was also up 42% standing at €80.5 million with Net profit up 36.5% to €54.7 million.

Despite the potential to expand the business, sell more cars, and make more money, di Montezemolo’s strategy is to keep Ferrari exclusive by making fewer cars. He likens the brand to a beautiful woman that is lust after and desired. If supply ever exceed demand, then Ferrari is done.

Ferrari boss also announced the addition of 250 new jobs later this year with a 20% increase in blue collar workers and opportunities within 3 years for 100 workers to be promoted to professional white collar roles. Ferrari is also investing €100million from now until 2015 in improving the environment for their workers.

Luca di Montezemolo’s most important comments:

“I base my plans for Ferrari on four key areas,” said Montezemolo. “Our team spirit, our passion, our extreme technology and our exclusivity.”

“I want Ferrari to remain exclusive,” he explained. “A Ferrari is like a beautiful woman, she must be worth waiting for and desired. I base my ideas on what I learned from Enzo Ferrari, if we produce less cars, we will not flood the market and it makes our used cars more desirable too.”

“It is my dream that I am replaced by someone who has come from a blue-collar role,”



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