Thursday 14 August 2008

Ferrari cancels dealer contracts (EU)

Ferrari has confirmed that, as a result of industry-wide EU regulation changes due to take place in 2010, it has cancelled the contracts of all its European dealers in order to renew them in line with the new rules.

Other sources had reported that Ferrari was planning to cut a large portion of its European dealership network, but the company denies that this is the case, although it can make no guarantee that all of its current dealerships will get new contracts. The company has also announced that it intends to create a new sales network for Europe, the Middle East and Africa.

Despite the slowing global economy, Ferrari’s sales are still healthy. It sold 6,465 cars globally in 2007, a 14% increase on 2006, and numbers are expected to rise again for 2008.

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