FIAT CHRYSLER 5-YEAR PLAN

Ferrari to refresh models but cap sales

A LaFerrari model from Ferrari S.p.A. on display at Fiat Chrysler's North American headquarters in Auburn Hills, Mich., today. The limited edition LaFerrari, created this year, is sold out.

Photo credit: BLOOMBERG
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DETROIT -- The Ferrari brand will continue to refine and refresh its four core models, concentrating on one new vehicle each year, and will limit global sales to 7,000 units annually.

The 458 and California eight-cylinder models and the 12-cylinder F12 Berlinetta and FF all will continue through 2018. The limited edition LaFerrari, created this year, is sold out.

Ferrari is worth about double what most analysts believe is its value, but it is not for sale, Fiat Chrysler CEO Sergio Marchionne said today.

Most analysts peg the value of the brand at a median of 4.3 billion euros, or about $6 billion. But Marchionne said that a self-imposed limit on Ferrari sales means the brand could, if it wanted, sell as much as 50 percent more vehicles per year, placing its actual value more toward $15 billion.

“If any of you is coming up with wonderful dreams of placing Ferrari in the right hands, I don’t need your help,” Marchionne told analysts, shortly after he joked about selling them a Ferrari of their own.

“The 7,000 [unit] limitation is a willful and intended limitation. We have capped the number of cars to ensure we would not be losing the uniqueness and exclusivity of the brand,” Marchionne said.

Ferrari also will make focus investments in Formula 1 racing, Marchionne said.

Luca Ciferri contributed to this report.

You can reach Larry P. Vellequette at lvellequette@crain.com.


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