UK is Ferrari’s leading market in Europe

Posted on August 2, 2013

Ferrari SPA have announced an increase in profits of 20% in the first 6 months of 2013, compared to the same period last year.

The increase in profits is matched with a small increase of production, of about 80 cars, equivalent to around a 2.8% increase. The increase in production is thanks to a huge increase in supply to the Middle East and the Far East, Japan showing a large increase. Ofcourse the increase in vehcile prices with the F12 introduction the average price of a new Ferrari is well over £230,000 (ex local taxes). The increase in people using the Atelier facility and the increase in pricing for car options as well as the diversity of options, the profits should be going up. A Carbon Fibre cup holder for the F12 is in excess of £2000!

Perhaps the surprising statistic of those released today from Ferrari is that the UK has increased it sales by 6% making it the largest market for Ferrari in Europe. This is partly due to the downturn in sales in countries like Portugal, Spain and home market Italy, but also almost certainly because of the strong export market in the UK.

With over 40 Ferrari 458 Spiders for sale on the open market it is a strange market at the moment in the UK, plenty of clients have bought Ferrari’s on the promise of being able to achieve premium’s but have found themselves disappointed. There are undoubtedly a lot of people in the UK capable of spending over £200,000 on a new or very slightly used Ferrari. With the new Foreign money in London more open to purchasing RHD’s on UK plates the new car sales in UK will stay high, but i suspect Germany will overtake the UK again next time.

Also, with the introduction of the Laferrari for sale, in Ferrari’s portfolio I am sure you can expect the profit for the next 6 months to skyrocket as well. 499 payments of £1M by the end of next year, should be a very nice little earner for the level headed Italian’s.

 

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