Despite endless denials from Maranello, Ferrari – the world’s preeminent sports car maker – could be facing a sales crisis. The Italian automaker is planning to cut up to 10 percent of its workforce by the end of the week, largely thanks to dwindling global sales.
According to Autocar, Ferrari could eliminate 300 positions by this Friday. “What’s being talked about [with the unions] is not renewing the people on one-year contracts, which would be about 300 people, and closely examining the consultancies and advisors and that kind of spending,” a Ferrari spokesman said.
In addition to the job cuts, Ferrari will also idle production for 20 days beginning later this month.
Ferrari denies that the job and production cuts are due to falling sales, but the writing could be on the wall for the Italian automaker. Although Ferrari still has waiting lists in some parts of the world, monthly sales have plummeted from about 600 cars a month to just 92 in November. Moreover, insiders say the V12-powered Ferrari 612 Scaglietti and Ferrari 599 Fiorano have seen a tremendous drop-off, with both models being moved to the company’s customization program to mask the slump.
The smaller F-430 isn’t fairing well, either, with sales stalling shortly after the unveiling of the new California.
Ferrari is sticking to its plan of selling 10,000 vehicles annually by 2010, but that goal looks rather lofty considering the current state of the global economy.
12/08, 3:42 PM
posted by:
corvette
that sucks.
12/08, 3:57 PM
posted by:
inline6
F-A-R-I-N-G, not “fairing”.
LLN, I haven’t seen you get the word right ONCE.
12/08, 4:01 PM
posted by:
sakio327
Monthly sales down from 600 to 92? How do you stay in business with that kind of a drop? I’m sure the margin of profit is incredibly high on Ferrari’s but that can’t possibly cover that kind of sales loss.
12/08, 4:20 PM
posted by:
bigjimid
See, it is worldwide and not just America who is hurting. Maybe Ferrari will give employee pricing plus
12/08, 4:20 PM
posted by:
Z06ified
All of those $40k millionaires are no longer around to buy Ferraris they couldn’t afford to start with. Now you know who the truly wealthy are: the people buying them now.
12/08, 4:42 PM
posted by:
mayer_ray_nagin
Ferrari is clearly a mismanaged hellhole that does not deserve to survive because Ferrari does not make cars people want. Let ‘em die. DIE FERRARI DIE!
.
Did I get that right, haters? You remember the goose/gander thing, doncha? Thought so.
12/08, 4:53 PM
posted by:
yarddog82abn
Ferrari is own by Fiat, so when Fiat CEO said that he predicts that only six global automakers to survive crisis, was that a hint? Huummm……. I wonder……
12/08, 4:56 PM
posted by:
HoosierHero
Ohs noes lol! The closest I’ll ever get to Ferrari is smelling their fumes at an F1 event. Unfortunately I was at the 2005 Indy F1 where everyone pulled off…A$$holes…
12/08, 5:02 PM
posted by:
A4
ummmm ill take one of those extra F430’s laying around
12/08, 5:04 PM
posted by:
DeansterTJ
Well **** me in the goat-ass. I would have never thought this would happen. Aren’t there millions of people out there with fortunes in the billions who couldn’t give a **** about the current economic state of affairs?
12/08, 5:37 PM
posted by:
howsmydriving
So much for the myth that ultra premium car cales don’t suffer during hard times.
12/08, 5:37 PM
posted by:
howsmydriving
“sales” not “cales.”
12/08, 5:39 PM
posted by:
Bimmer
People started to realize ‘fancy FIATs’ are unreliable. Who in a right mind would buy a car that doesn’t last a 100K miles and has only TWO! years warranty!?
12/08, 6:24 PM
posted by:
johnnycanuck
I was shopping the other day and discovered Ferrari has a line of fragrances. I tried some but now I can’t get the smell of Ecclestone’s spooge off my wrist.
12/08, 7:38 PM
posted by:
The Stig
@johnnycanuck
Disgusting but oh so funny.
12/08, 8:33 PM
posted by:
atoms
maybe if they didn’t make new buyers wait two years and buy a used ferrari before they could get their hands on the 599 their sales might go up