As a whole, the global automotive sector is facing many unknowns. China, the world’s biggest car market, is slowing down, the US, despite being on a positive track so far, is not immune to fears of a future recession, and Europe is facing the worst crisis in its recent history.
Even so, Ferrari Chairman Luca di Montezemolo expects his company to report all-time sales and operating profit highs in 2012.
“From the latest data I’ve seen, we are on track to make this year another record year”, di Montezemolo told AutomotiveNews Europe.
Last year Ferrari sold a record 7,195 supercars and had an operating profit of €321 million (US$402.5 million). This year, through June, the company’s sales were up seven percent, to 3,664 units, compared to the same period in 2011. The US accounted for more than 25 percent of total sales.
And that’s without taking into account the recently introduced F12berlinetta, “the quintessential Ferrari” according to di Montezemolo, which will go on sale in Europe this September and in the US next March.
The man who turned Ferrari around added that profits could have been bigger, if the company hadn’t made a big investment in a completely new engine for its Formula 1 team.
That’s because, from 2014, F1 rules stipulate a change from today’s 2.4-liter normally aspirated V8s to 1.6-liter turbocharged V6s.
“The new F1 engine is a considerable burden for a company as small as Ferrari”, commented Montezemolo during the presentation of the F12berlinetta at Ferrari’s Fiorano test track.
Experts estimate that building a new F1 engine from scratch typically takes about two years and amounts to the tune of €40-60 million (US$50-75 million).
By Andrew Tsaousis
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