FERRARI'S plan to cut the number of cars it sells in order to maintain its exclusive image has paid off, with revenue and profits both rising in 2013.
The Italian marque sold 6,922 of its high-end cars last year, down 5.4 per cent. However, rising revenues from custom-made vehicles and Ferraribranded souvenirs helped push turnover up five per cent to €2.3bn (£1.37bn), while net profits were up 5.4 per cent at €246m - a new record for the company.
Sales in some countries, including the
German sales fell by 100 to 652, while Italians also bought fewer Ferraris. The firm's home turf is now described in Ferrari's results statement as a "marginal market for the luxury car sector".
The US remains the firm's biggest market by some margin, taking delivery of more than 2,000 cars last year, followed by
Revenues at Ferrari stores rose 19 per cent on a like-for-like basis, or 30 per cent including new shops. Turnover from brand-related activities, which includes a Ferrari theme park in
Ferrari was yesterday named the world's most powerful brand for the second consecutive year by Brand Finance. Apple was deemed to be the most valuable brand, worth an estimated
Many luxury car companies have weathered the global recession well, with
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