Ferrari sales drop more than 50 percent at home

Ferrari sales drop more than 50 percent at home

Ferrari have felt the worst of the economic downturn at home as sales have dropped by 56% compared to last years sales. Last year the Italian supercar manufacturer sold 258 units in Italy and mid way through 2012 announced that sales were down and attributed that to the current financial crisis in Italy and Europe.

At this point in the year Ferrari were 164 units down on the previous years sales figures having only sold 187 cars meaning that in the remaining 6 months the firm only sold 71 cars. Ferrari is not the only Italian firm to be suffering as the main mass market manufacturer Fiat also feels the struggle.

Fiat have announced a closure of a factory and announced a 1,500 job loss due to the lack of demand. Fiat have had to reduce production figures and therefore production costs to counter the stagnant market that is the Italian new car market.

Maserati is another Italian firm to be suffering as they felt the economic slump more than others, having announced a decrease in sales of 72% having only sold 115 vehicles in 2012. The other Italian supercar manufacturer in Lamborghini also suffered having dropped 17%. Not only the high value vehicle producers suffered as the more mainstream manufacturer, Alfa Romeo, also saw results drop by more than a quarter.

Last year was a land mark for new car sales in Italy, but not a land mark to be proud of, as last year marked the worst year in market performance for new vehicles in Italy for 33 years.

Although sales figures have dropped, Ferrari did announce record profits in the first quarter of the year last year netting just over £80 million. This was the firms largest profit ever for a six month sales period. So by these statistics alone you can see as the market worsens the price of new cars will always be on the rise in order to achieve a profit.