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Ferrari will be cutting back on production this year
May 8, 2013
Ferrari announced that it will be scaling back on production this year, to ensure the exclusivity of the brand. The company have also ruled out the production of an SUV. Luca di Montezemolo, who is the President of the company announced that the production at Maranello will be reduced to less than 7,000 vehicles, the news was announced today at a special press conference at Ferrari's factory. 

He went on to explain that this move was vital in ensuring that the brand stayed exclusive. The exclusivity of Ferrari's cars are the brand's equity, he went on to explain that buyers of Ferrari's are buying into their dream and the company want to make sure that they preserve that. The company made the decision for 2013 to manufacturer a lower number of vehicles in comparison to 2012. Ferrari want to prove that selling less cars can still show an increase in profits, despite the trend in the market. 

Di Montezemolo outlined the future of Ferrari during the press conference and ruled out the possibility of adding an SUV or niche model to their range. He explained that he is constantly being asked if the company will ever build an SUV, a saloon or a smaller car. He explained that if that is what they are looking for then they should go and buy the new Maserati Ghibli or the Quattroporte. There will be new models being added to the Ferrari range in the future, though only in a position in the market where Ferrari already has a strong heritage. 

There will be 250 jobs added to the Ferrari factory this year, though this workforce will be largely responsible for manufacturing and developing Maserati Quattroporte engines, including the V6 and V8 versions. This will be taking place in a brand new area of the plant which will feature much more automation, than the traditional engine line. 

Ferrari plan to shift sales away from Europe over the next four years whilst intending to grow sales in the United States before increasing production for China. A 2% increase in sales in Asia is planned, with a 10% increase being aimed at America. 

Di Montezemolo also confirmed that Ferrari would not be building an all electric vehicle as long as he was chairman of the company. 

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