This has resulted in record revenues of $1.55 billion, a staggering increase of 19.6 percent over the same period a year ago, while profits are now up 23.5 percent to 131 million.

Note that the record sales do not include numbers for the new FF, which is sold out until 2012. Deliveries of Ferrari’s first four-wheel-drive four-seater have only just begun but its numbers will be included in the automaker’s yearly figures.

Key markets included the U.S., which saw a 23 percent rise in sales compared with the same period a year ago, as well as China, which saw a whopping 116 percent rise. This makes China the second largest market for Ferraris after the U.S., having received 378 Ferrari’s versus 939, respectively. Germany was the third biggest market for Ferrari, with 337 of the Prancing Horses being sold there during the past six months.

“If the trend for the first six months continues at these levels in the second half of the year, 2011 could be remembered as one of the best in Ferrari’s history,” commented Ferrari’s Chairman, Luca di Montezemolo. “We also recently began deliveries of the new FF and we’re taking our first orders from India – the impact of both of these factors will only be seen in the second half of 2011.”

Another interesting tidbit revealed today is that every Ferrari sold during the period was personalized, leading the automaker to establish the new Tailor Made customization program, which launches in September.

The new program will enable clients to create an individual car using exclusive and unique materials, color and trim with the support of a dedicated team, just as they would custom order a suit.

What do you make of the record sales by Ferrari in the first half of 2011?

Join the discussion. Please leave a comment.

Check me out on Twitter: http://twitter.com/FerrariDreams and Facebook: http://www.facebook.com/FerrariDreams.

Please Share this article with your friends on Facebook and tweet on Twitter by pressing the buttons below.

Thank you!

Enrico Galliera, spent the first 20 years of his career with Italian pasta maker Barilla Holding SpA. His only job change happened in April 2010, when he took charge as the commercial and marketing director at Ferrari SpA, the legendary Italian sports car manufacturer. He was in India to open Ferrari’s first dealership in the country, located opposite the Jaguar Land Rover showroom in Janpath, New Delhi. Fourth in the pecking order in the firm, Galliera spoke about the challenges he anticipates and Ferrari’s future plans. Edited excerpts:

Is it because of the growing presence of luxury car makers that you decided to enter India?

The decision to enter India was taken a few years ago. In 2008, we decided to take a tour of India in order to learn more about India…opportunities in India. At that time we took the decision to arrive in India in 2011. The only point we wanted to make sure…was to find the right partner because we were just not looking for someone who was investing money…, but we were looking for someone who can represent our brand and become the ambassador of our brand. In that perspective, we will not be aggressive. We would just want to ship, show and deliver our product to the Indian customers.

Will Ferraris cope with Indian roads?

Have you ever driven in New York, Rome or Eastern Rome? I think the life is chaotic on the roads everywhere in the world. It is true that in some countries there are some infrastructure that are more developed. But we believe that there is going to be some development even in India. This will allow the people to drive their car. Together with the development of the circuits like GP (Grand prix), which are going to be open in November or December. These are some of the environments where people can enjoy driving their cars—both racing or driving their cars. Our cars are sports cars, but those can be used everyday like a normal car. When it comes to Ferrari, it cannot be just about the speed. Even at 20km per hour you can have a great time.

Brand Ferrari excites everybody. With the growing number of rich people in india, how are you going to preserve the exclusivity of the brand in the country?

The exclusivity is given by the approach to the market. This means that we are not selling on discount, we are not pushing our cars into the market. We are just delivering the car, which is needed in the market and always being careful as we like to say… to deliver one less car than the demand in order to keep the demand high, in order to keep this exclusivity. In the US, which is our biggest market, we sell close to 2,000 cars per year and it is very exclusive because demand over there is very high. So, the same thing will happen in India. We will deliver the car according to the demand in the market. But we’ll follow our motto of keeping supply below demand.

What kind of demand do you expect from the Indian market?

This is a nice question. I would like to have the crystal ball to understand what is going to be the potential. We will discover it together with Mr (Ashish) Chordia (chairman of Shreyans Group, the official importer of Ferrari cars in India) in the coming months. Our target in the next three years is to at least arrive to a three digit number…so something around a hundred cars. But if the opportunity is there, we will follow it. It is (a) learning by doing process that we will have to put in place here.

Globally, your business took a serious hit during the economic crisis. How is the situation right now?

Well let us say that during the crisis, Ferrari probably was one of the companies less impacted as compared to others. That is simply because of our business model. We normally have, on average, 12 months wait list. So whenever there is a problem, we still have some room or space.

Ferrari is recovering well from the global crisis of 2008-09 and last year more than 100 Ferraris were delivered in South Africa. That was the record year for the company. We delivered more than 6,500 cars. This year, we plan to beat this record. So, everything is progressing very well.

The company is concerned about Japan and how long it will take for such an important market to recover. However, things have worsened after the recent tsunami there. Unrest in several Middle-Eastern countries are a concern for the company. Far East countries are expected to become the second most important market after the US in the coming future.

How are the other developing markets?

All the countries are profitable. We try to deliver in a market when we believe there is a dimension that is able to bear the cost. Otherwise, we prefer to stay out. Now we are in 58 countries and we have a long list of countries that are willing to have a representation of Ferrari. But we are very careful of making sure that the investments pay off well.

South Africa has come up as an important market for Ferrari and is already among the top 15 out of the 59 countries. We are looking to expand into other African countries in future. At present, we have owners in countries like Mozambique, Angola and Nigeria who have their cars serviced out of South Africa.

China is a successful country for us. We went to China in 2004. The first three-four years were taken to better understand the country. Last year, we grew at 40%. We are selling around 300 cars there. Now we are at the incredible position in the country.

Indians are willing to pay a price, but only if they think the product is worth that much. Do you also get that impression?

I cannot exactly comment about the Indian market. I would say that throughout the world, the economic meltdown created a new environment where people who are willing to pay heavily for capital goods are looking more at the value of the product before making any investments. So, this is a general statement across the world. So, probably it is going to be the same in India. So, the key is going to be simple, that is to develop and deliver outstanding superior products. And that is what Ferrari tries to do. We think that there is a continuous improvement as each car is better than the best one and we are working continuously to make it better. That’s the key… difficult to be done, but a very simple key. If you are with a good product which can give the right emotion to the people who can drive, people will buy.

How is your strategy shaping up with Formula 1 coming to India?

F1 and general racing activities are our marketing platforms. So during any event, we try to organize around the F1 GP a list of activities where we try to involve our best customers in order to let them feel the passion of being part of Ferrari. We will do the same in India. We are working on the specific programme. Normally, we try to bring our customer close to the race, close to the box, close to our pilots to let them feel the emotion of a GP.

What is the next big thing to happen at Ferrari?

We are getting requests from dealers in countries such as Japan and the US for cars that produce fewer emissions and use less fuel. We are looking at all the various fuel saving and emission-less technologies in the world and will adopt them when they meet our specific requirements.

What do you think about Ferrari entering the Indian market?

Join the discussion. Please leave a comment.

Check me out on Twitter: http://twitter.com/FerrariDreams and Facebook: http://www.facebook.com/FerrariDreams .

Source: livemint.com

Ferrari SpA recently announced it will step into the Indian market in a matter of weeks. It also said it would take up to a year before an Indian buyer can finally get his or her hands on the steering wheel of one of its supercars.

But one man may not have to wait that long to cruise Indian roads in a Ferrari: Mahendra Singh Dhoni, the star captain of India’s cricket team who Saturday led his team to World Cup victory with a Man of the Match performance in Mumbai.
A Ferrari could be the red hot icing on the cake for Dhoni, who has already been reportedly showered with cash, plots of land and other gifts.

Pictures of a mysterious flaming red Ferrari 599 GTO have set India’s auto blogosphere abuzz with rumors it is a gift for Dhoni. (It’s so mysterious that the face of a person pictured next to the car has been blanked out).

The car’s saffron, white and green bonnet stripe makes it very distinctly Indian and therefore perfect for the country’s cricket captain. (With only this for evidence, it’s a bit of stretch to conclude that the Ferrari is intended for Dhoni). But another detail – the fact that the driving seat is on the left, rather than the right – has left some perplexed.

A spokesperson for Ferrari in Italy confirmed the car in the picture was a Ferrari 599 GTO – a limited edition model – but declined to comment on whether it belonged to or was intended for Dhoni, citing a company policy that says the identity of Ferrari owners cannot be discussed.

Another question is who would’ve shelled out an estimated $500,000 to buy Dhoni this super car, the fastest road-going model in Ferrari’s range? Even the auto blogosphere so far appears silent on the issue. Could it be that Dhoni treated himself to a super gift?

Another star of India’s cricket team, Sachin Tendulkar, has been driving around Mumbai in a Ferrari for years. The Italian car manufacturer gave India’s favorite cricketer a 360 Modena way back in 2003. At the time, the government had initially allowed Tendulkar to have his Ferrari without paying the hefty $230,000 import duty. After a court raised complaints, the carmaker eventually agreed to shoulder the tax burden – presumably because it regarded it as a price worth paying for the Tendulkar brand.

Did Dhoni treat himself to the Ferrari 599 GTO?
Join the discussion. Please leave a comment.
Check me out on twitter: http://twitter.com/FerrariDreams and Facebook: http://www.facebook.com/FerrariDreams.

Source: blogs.wsj.com

MUMBAI: Connoisseurs of luxury cars can now look forward to buying a Ferrari in India soon. The Italian luxury sports car is set to make its official debut in India with models like the Ferrari California, 458 Italia, 599GTB Fiorano and the latest model, FF, with prices starting from Rs 2.2 crore.

The Shreyans Group will be the official importers for Ferrari in India, and the first dealership will open in New Delhi this spring, followed by a second one in Mumbai in the latter half of the year.

The long-awaited move by Ferrari comes at a time when the Indian luxury car market is said to be growing at an annual average growth rate of 40%. The growth, which is the largest in any luxury segment, despite the steep import duties on these vehicles. Most luxury car makers including Rolls Royce, Bentley, Bugatti, Porsche, BMW and Mercedes Benz are already available in the Indian market, which is estimated at around 15,000 units per annum.

The Shreyans Group plans to set up an independent Ferrari India office with experienced professionals to manage the upcoming dealer network. The first dealership, which will carry the Ferrari Corporate Identity, will be accompanied by the official Ferrari Service.

“We are proud to announce the partnership with Ferrari today. This brand represents for us the epitome of success and we are proud to partner with one of the world’s most desired brands. We will establish a highly qualified network of Ferrari dealers across India to cater to the discerning needs of our customer,” said Ashish Chordia, chairman, Shreyans Group.

The Shreyans Group is known for retailing and distributing some prestigious global brands like Porsche and Ducati in India. The luxury conglomerate distributes and retails luxury products including cars, yachts, super bikes, fashion articles and jewellery.

Ferrari believes it will find a ready market among the country’s newly rich citizens. Figures from Forbes magazine show that India now has 55 billionaires, seven more than in 2010. Boosted by an economy growing at more than 8 per cent per year, the combined fortune of India’s billionaires stands at dollars $US246.5 billion ($243bn) up from $US222 billion a year ago.

An elite group of Indian tycoons and media figures already own Ferraris, including Ratan Tata, the Tata Group chief executive, Vijay Mallya of Kingfisher Airlines, and Sanjay Dutt, the Bollywood star.

Luca di Montezemolo, Ferrari’s chairman, visited India in September for talks about the project. The group sold 6573 Ferraris worldwide last year with China its fastest growing market.

What do you think about Ferrari entering the Indian market?
Join the discussion. Please leave a comment.
Check me out on Twitter: http://twitter.com/FerrariDreams and Facebook: http://www.facebook.com/FerrariDreams .

Source:timesofindia.indiatimes.com and theaustralian.com

Ferrari’s Board of Directors met yesterday to analyze the Italian supercar maker’s results for the 2010 year, which proved to be an extremely good one as a number of key figures exceeding those achieved in 2008, Ferrari’s best year ever.

“After the great satisfaction due to the extraordinary results of 2010 we have to approach 2011, which presents itself full of challenges. Starting from the new models, at the Geneva Motor Show we will present the FF, the first car with four-wheel drive and exceptional performance, while regarding international expansion there will be the eagerly expected opening of the first dealership in India,” comment of Ferrari Chairman Luca di Montezemolo after the board of directors’ meeting.

Deliveries to the brand’s sales network were 6,573, a figure representing a 5.4 per cent increase over 2009, and Ferrari’s highest sales figure ever. As you may already suspect, the strong sales are in large due to growth seen on emerging markets, especially in Asia, where there was “exceptional growth,” said the car maker and the return of the United States market to pre-crisis. In China, nearly three hundred Ferrari cars were sold, an increase of 43.6 percent. In the Middle East Ferrari had 349 buyers.

In United States a record number of people-1576 in total-bought a prancing horse. North America accounts for 26% of sales. Within Europe 467 cars were sold in the U.K.

Ferrari confirmed it is set to move into the Indian market, with the first official dealership to open in New Delhi this spring and a second in Mumbai by the end of the year.

On the revenue front, the company earned €1.919 billion, 7.9 percent more than a year ago, while the year’s trading profit topped €302.7 million (+26.9 per cent). Not only were sales more numerous, but they were also more profitable, as the ROS (Return on Sales) reached 15.8 per cent, one of the best results in Ferrari’s history. According to the manufacturer, this is far “higher than the average for the automotive industry, and approaches that of the luxury goods sector.”

“As far as the motorsport season is concerned, which is about to start, Ferrari wants to be again among the main protagonists in an F1 Championship, which announces itself as highly contested. At the same time we have to continue the brand’s development. 2011 will be characterized by strong investments and lots of innovation, relying, as usual, on the exceptional people, who are our most important patrimony,” Montezemolo added.

What do you think about Ferrari’s record sales year?

Join the discussion. Please leave a comment.

Check me out on Twitter: http://twitter.com/FerrariDreams and Facebook: http://www.facebook.com/FerrariDreams .

Source: autoevolution.com, france24.com and gtspirit.com

Giorgetto Giugiaro sold out to the tedeschi at Volkswagen. Bertone is teaching budding Chinese car designers in brutally cold Changchun. And now, the last vestige of inspired Italian car design is on the auction block: Pininfarina . Actually, they had hired the Italian investment bank Banca Leonardo in August 2009, but they took their time. Now, the bidding is getting serious. And guess who wants to take Pininfarina home.

“Some 10 automakers, three of which are Chinese, are bidding for the Italian car design firm, Pininfarina, “ reports China’s Global Times.

Pininfarina shaped many, mostly high-end cars from Ferrari to Maserati, from Rolls-Royce to Volvo, from Alfa Romeo to Cadillac, from Jaguar to Lancia. If you want a designer of a luxury car, Carozzeria Pininfarina are first to call (+39 011 9438111). Now, the designer of the Ferrari Testa Rossa is looking for the highest bidder. Designing luxury cars doesn’t seem to be a good business anymore. According to Bloomberg, Pininfarina already racked-up $45.8 million in losses in the first nine months, with more red ink to come.

Global Times unearthed that “Beijing Automobile Works Co. Ltd (BAW) and Mahindra Group, from India, top the list of bidders followed by Brilliance Auto, Jianghuai Automobile Co., Ltd. (JAW), Bajaj from India and Magna International Inc.” BAW of course is part of BAIC.

This is a strange assortment of bidders. What BAW wants to do with Pininfarina remains a mystery. BAW is known a a maker of civilian and milspec off-road vehicles and trucks. Mahindra? Also known for trucks. Jianghuai is a relative nobody by Chinese standards, they made about 320,000 units last year. A lot of them trucks. Bajaj? Even stranger: The Indian company produces gadzillions of two-wheelers, and has problems coming up with a low cost car together with Renault-Nissan. Magna? A parts company that also will gladly build your car on an outsourcing basis. They want to design them too?

Global Times called around. Not very successfully. The PR Dept. of Jianghuai said they hadn’t received a memo yet, hence no comment. As for BAW, Global Times go a bit testy: “Constant calls from the Global Times went unanswered to BAW’s Publicity Department.”

Word from Europe is that Magna would not mind having Pininfarina, but they don’t want to pay a lot. The Italians are supposedly hoping to get more money from India or China. Or are they just playing the yellow (and brown) card to drive up the price? On the other hand, Pininfarina is already one step in China: This week, they opened an office in Shanghai. Which again doesn’t mean much. Anybody who’s somebody in the autobusiness must be present in China.

But then again, what do all these truck makers want to do with a company that designed Ferraris? Rattle presumptive bidders with the thought that Ferrari know-how could end up with Indian or Chinese truckbuilders?

What do you think of Ferrari designer Pininfarina falling in the hands of India or China?

Join the discussion. Please leave a comment.

Check me out on Twitter: http://twitter.com/FerrariDreams and Facebook: http://www.facebook.com/FerrariDreams .

Source: thetruthaboutcars.com

Italian brand Ferrari will enter the Indian market by January 2011. “We’ll open in India in January 2011,” said Ferrari Chairman Luca Cordero di Montezemolo. He made the announcement about entering the Indian market at the recent ongoing Paris Auto Show. “Despite the crisis, we’ll close the year better than last year, close to record levels in terms of economic results,” Montezemolo said.

Asked about new markets, Montezemolo said the carmaker was currently present in 57 markets, adding the company was doing well in China.

Fiat Spa currently owns 85 percent of Ferrari and sells its own brand in India in association with Tata Motors.

What do you think about Ferrari opening in India in 2011?

Join the discussion. Please leave a comment.

Check me out on Twitter: http://twitter.com/FerrariDreams and Facebook: http://www.facebook.com/FerrariDreams .

Source: cartradeindia.com

Ferrari 458 Italia

 The increasing appetite of Indian consumers which made the country’s automotive market explode over the past few years is ringing quite some bells in Europe, with more and more carmakers either expanding or setting up operations there.

Already present in the other Asian star market, the neighboring China. Italian manufacturer Ferrari is currently considering starting a dealership network in India. The company’s president Luca di Montezemolo said in an interview with BBC, cited by Business Standard, that the first Ferrari dealerships in the country will be opened in the next six to eight months.

Business Standard says the most likely locations for the dealerships will be New Delhi and Mumbai with the latter most likely to be the first one. In Mumbai, the dealership will most likely be located in South Mumbai. The Italians’ operation in the country would be managed through Tata Motors. The move would make sense both economically and on a more personal level, as Ratan Tata serves on the board of Fiat Auto. In fact Ratan Tata also drives the only known Ferrari California in existence in India.

Ferrari sold 68 vehicles in China for the January-April period, meaning it managed to double its sales in the country compared to 2009. Although a similar growth in India might be bit of a stretch, the carmaker can be hopeful it will leave its mark.

Ferrari’s entry into India comes at a time when other supercar manufacturers are making a beeline into India. Bugatti recently appointed its dealership together with distributor for India while Aston Martin too has appointed two dealers, both in Mumbai and New Delhi. A whole host of other supercar manufacturers too have shown interest in India so stay tuned to the latest information.

What do you think about Ferrari opening it’s first dealership in India in six to eight months?

Join the discussion. Please leave a comment.

Share the article on Twitter by retweeting it by pressing the button below.

Source: bsmotoring.com via autoevolution.com

It’s a color that’s instantly connected with the prancing horse. Though there aren’t any official figures, two out of every three Ferraris sold is reported to be bright red. But the origins of rosso corsa, or race red as the iconic Ferrari red is known, are closer home than you imagine-in a massive factory near Baroda, the city of colors. It was here that Raja Ravi Varma made his best-known paintings at the turn of the century, just as the Ferrari was born. The Heubach India factory in Ankleshwar, one of the world’s largest organic pigment complexes, turns out a spectrum of colors for automotive coatings. Their prized pigment is monolite red, which forms the base of the Ferrari red.

Some of the world’s most famous car makers-Ferrari, BMW, Chrysler, Volkswagen, General Motors and Kia Motors to name a few- use colors containing pigments that are manufactured by Heubach India, a subsidiary of the 600 year old German Heubach group. Heubach India exports about 90% of its products to the U.S., Europe and South East Asia.

“Our confidentiality agreements prevent us from naming the companies to which we supply pigments,” said Ravi Kapoor, managing director, Heubach India. “Almost all leading color makers who supply to auto giants use our pigments, but we are not privy to specific end-user information.”

It’s not just about red at this company’s 25-acre premises. The facility, which employs about 200 people, is as green as it can get in Gujarat. When Heubach India started its operations in 1994, not a single bird could be spotted in Ankleshwar, a hub for chemical and dye manufacturing and, as a result, one of the most polluted zones in India. But after Heubach began a program to plant trees on its campus, company officials say they have spotted over 37 species of birds. “When we talk of colors, birds have to be around too.” said a Heubach official.

For over a 100 years, rosso corsa has been the color of all Italian race cars on the international circuit. Every country has its own color-green for the United Kingdom, blue for France, white or silver for Germany. Though this is no longer strictly followed, teams such as Ferrari and Mercedes Benz carry on the tradition.

Founder Enzo Ferrari launched the first Ferrari in classic red with its logo of a prancing horse against a canary yellow background. Garrione Fulvio of Pininfarina, a firm that designs Ferrari models, says, “I have worked on five Ferrari models. They’re very specific that we design the car with the color red in mind.” Fulvio, who is currently at the National Institute of Design, Ahmedabad, says Mercedes wants their cars designed for silver, Rolls Royce for black.

In the mid-eighties, a leading European pigment company patented the red used by Ferrari. After the patent expired two decades later, other players started making the pigment. Heubach India entered a few years ago. Being late doesn’t matter in this race.

“The color red is Ferrari brand’s personality,” says Piyush Sinha, who teaches marketing at the Indian Institute of Management, Ahmedabad. Sinha cites examples of Coke and Cadbury’s, two strong brands identified with red and blue, respectively. “Red gave Ferrari a distinct identity,” says Sinha.

What other companies can you think are associated with a certain color?

Join the discussion. Please leave a comment.

Check me out at Twitter: http://twitter.com/FerrariDreams and Facebook: http://www.facebook.com/rick.resch .

Source: timesofindia.indiatimes.com