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NEWS
Ferrari not for sale
...But it's worth much, much more than the world thinks, according to its ownersFerrari is worth nearly three times what automotive analysts believe, according to Fiat Chrysler CEO, Sergio Marchionne.
Speaking at yesterday's Fiat Chrysler product plan unveiling, Marchionne insisted the market's valuation of the largely privately-held Ferrari was set artificially low.
The Canadian-Italian automotive boss insisted the €4.3 billion median value placed on the brand by market analysts sold it short by almost €6.5 billion.
Promising significant new product every year from the Prancing Horse, Marchionne explained the brand's value would be far higher if it hadn't limited its global sales to around 7000 cars a year.
He said that with increased interest in Ferrari cars from emerging markets like China, it could easily sell 15,000 cars a year.
"The 7000 limitation is a willful and intended limitation. We have capped the number of cars to ensure we would not be losing the uniqueness and exclusivity of the brand," he explained.
"If any of you is coming up with wonderful dreams of placing Ferrari in the right hands, I don't need your help," he told analysts.
Instead of selling the brand, he insisted it would continue to develop and renew its core four cars, with a major engineering upgrade for one of them each year, starting with the California T this year.
Each existing model will continue through to 2018, with major upgrades along the way, although the limited edition LaFerrari has already sold out.
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Written byMichael Taylor
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