Go Back  AcuraZine - Acura Enthusiast Community > Automotive Discussion > Automotive News
Reload this Page >

Ferrari: Sales, Marketing, and Financial News

Notices

Ferrari: Sales, Marketing, and Financial News

 
Old 03-19-2003, 01:13 PM
  #1  
Moderator Alumnus
Thread Starter
 
gavriil's Avatar
 
Join Date: Oct 2000
Location: Washington DC (NOVA)
Age: 47
Posts: 16,399
Likes: 0
Received 3 Likes on 3 Posts
Ferrari: Sales, Marketing, and Financial News

Associated Press - March 19, 2003

MILAN, Italy (AP) - Ferrari SpA said Tuesday it earned 21.6 million euros (US$22.9 million) in net profit in 2002, 54 percent less than the 47 million euros (US$49.8 million) reported for 2001.

The Italian sportscar maker - which is 56 percent-owned by struggling carmaker Fiat SpA - said its group sales rose 14.1 percent to 1.2 billion euros (US$1.27 billion) as unit sales rose 22.3 percent to 7,536, including 3,300 Maseratis, 883 of which were sold during the brand's first full year in the United States.

Consolidating operating profits rose 13.7 percent to 70.5 million euros (US$74.7 million).

The drop in net profit was due primarily to one-time bonuses to two individuals, including an 18.2 million euro (US$19.2 million) payout to Ferrari Chairman and Chief Executive Luca Cordero di Montezemolo and a 3 million euro (US$3.2 million) bonus to Jean Todt, director-general of Ferrari's stellar Formula One racing team.

Those payments were made to recognize the two men's contribution to the ``company's prestige and value,'' Ferrari said.

Ferrari boosted its research and development spending to 23 percent of sales, amounting to 283.4 million euros (US$ 300.4 million) compared with 225.3 million euros (US$238.8 million) in 2001.

Last June, Mediobanca SpA paid Fiat 775 million euros (US$821.5 million) for a 34 percent stake in Ferrari. That values Ferrari, which di Montezemolo has said he hopes will hold an initial public offering when market conditions permit, at 2.3 billion euros (US$2.4 billion) - about 105 times earnings.
gavriil is offline  
Old 03-19-2003, 01:15 PM
  #2  
Moderator Alumnus
Thread Starter
 
gavriil's Avatar
 
Join Date: Oct 2000
Location: Washington DC (NOVA)
Age: 47
Posts: 16,399
Likes: 0
Received 3 Likes on 3 Posts
Shit, you pay bonuses to 2 men and the whole company's quarter goes to the toilet. That tells you what a small comapany this is and how fragile its statements are.
gavriil is offline  
Old 03-19-2003, 08:36 PM
  #3  
Banned
 
Join Date: Nov 2001
Location: central jerzey
Age: 33
Posts: 5,547
Likes: 0
Received 0 Likes on 0 Posts
Do not buy stock in them.
Red Nj-s is offline  
Old 03-30-2003, 01:20 AM
  #4  
Subie Dubie
 
Join Date: Feb 2001
Location: PDX
Age: 65
Posts: 5,987
Likes: 0
Received 1 Like on 1 Post
R+D is probably the $$ earmarked for the race team !! That's almost exactly what their share of expenses were last year to run F1.
Red Rider is offline  
Old 03-30-2003, 11:05 AM
  #5  
Illusion Lighting
 
Join Date: Jul 2002
Location: So. Cali
Age: 39
Posts: 195
Likes: 0
Received 0 Likes on 0 Posts
well ferrari is definitely putting out quality not quantity
see_fu is offline  
Old 03-31-2003, 12:02 AM
  #6  
Subie Dubie
 
Join Date: Feb 2001
Location: PDX
Age: 65
Posts: 5,987
Likes: 0
Received 1 Like on 1 Post
Originally posted by see_fu
well ferrari is definitely putting out quality not quantity
Well if they don't start making more $$ then that could be questionable. Remember their parent company Fiat is losing their ass.
Red Rider is offline  
Old 09-29-2003, 07:06 AM
  #7  
Moderator Alumnus
Thread Starter
 
gavriil's Avatar
 
Join Date: Oct 2000
Location: Washington DC (NOVA)
Age: 47
Posts: 16,399
Likes: 0
Received 3 Likes on 3 Posts
Ferrari North America offering certified used vehicles

Ferrari North America offering certified used vehicles


By ARLENA SAWYERS | Automotive News

Ferrari North America, which began offering certified used vehicles on Aug. 1, is trying to attract buyers who worry about the cost of repairing a pre-owned Ferrari.

The Ferrari Certified Pre-Owned Program covers eligible vehicles that are under 12 years old and have fewer than 60,000 miles.

Adam Rowley, Ferrari dealer operations manager, says the company created its program to give buyers confidence in the used vehicles they purchase.

He says the program also protects the franchise from non-Ferrari dealers who sell used Ferraris.

"When you buy a used vehicle, there is a certain amount of risk, whether it is a BMW or a Ferrari," Rowley says. "We want to add confidence to the brand and used-vehicle program."

Rowley declined to say how much Ferrari charges dealers to cover the service contract. He says the amount varies depending on the contract and vehicle.

Rowley also says it is too early to report certified used sales numbers.

Dan Cable, general manager of Cauley Ferrari-Maserati in West Bloomfield, Mich., says he expects certification to add $3,500 to $10,000 to the retail price of a used Ferrari, depending on the service contract, coverage length and type of car.

Cable says he is happy to have the program and believes it will be a deciding factor for would-be buyers who worry that repairing a used Ferrari is too expensive.

Still, he has yet to sell a certified used Ferrari.

That's because the cost of certification was not factored into the price he paid sellers for the used Ferraris he has for sale.

The extra cost to the dealer will be accounted for in future transactions, he says.

"To add that now would drive the cars out of the normal price category," says Cable, who sells about four used Ferraris a month.

Rowley says Ferrari's 29 U.S. and two Canadian dealerships sell about 1,200 to 1,300 used Ferrari cars annually.

He says he expects that about 75 percent of those vehicles will meet certification criteria.

Cars certified under the program are covered by one-year service contracts and roadside assistance.

Cars that are 7 to 12 years old are covered by Ferrari Powertrain Plus, which includes the engine, drivetrain and major electrical components.

Vehicles less than 7 years old are covered by the Ferrari Power Service Contract, which covers additional components such as the steering suspension.

Depending on the vehicle's age, Ferrari buyers can purchase an additional year on the service contract or an upgrade that covers virtually everything except vehicle wear-and-tear items, body trim and glass.
gavriil is offline  
Old 07-25-2004, 07:42 PM
  #8  
Banned
 
18anatak's Avatar
 
Join Date: Mar 2003
Location: Orlando
Age: 39
Posts: 11,516
Likes: 0
Received 0 Likes on 0 Posts
well, thats good to know if i'm ever in the market for a used Ferrari. I've found though, that if you're not driving a brand new one, dont even bother.
18anatak is offline  
Old 07-25-2004, 10:58 PM
  #9  
Pit Stop?
 
Minch00's Avatar
 
Join Date: May 2003
Location: Orlando FL
Age: 33
Posts: 13,526
Likes: 0
Received 1 Like on 1 Post
Originally Posted by Katana18
well, thats good to know if i'm ever in the market for a used Ferrari. I've found though, that if you're not driving a brand new one, dont even bother.
Don't dig up old threads
Minch00 is offline  
Old 02-17-2005, 04:35 PM
  #10  
Moderator Alumnus
Thread Starter
 
gavriil's Avatar
 
Join Date: Oct 2000
Location: Washington DC (NOVA)
Age: 47
Posts: 16,399
Likes: 0
Received 3 Likes on 3 Posts
Fiat Buying Maserati from Ferrari

Fiat Buying Maserati from Ferrari - - By Jim Burt and Henny Hemmes - - Source: The Car Connection

Fiat SpA announced Wednesday it's buying the Maserati sports car brand and business from Ferrari, a company in which Fiat already owns a majority stake. The deal is being done to meld Maserati and Fiat's underperforming Alfa Romeo unit, and also probably to liberate Maserati from Ferrari in advance of a stock listing of the Italian performance car company.

Terms of the deal have not yet been disclosed. Fiat just agreed to take $2 billion from General Motors in exchange for not exercising a put option that would have required GM to buy the 90 percent of Fiat Auto it didn't already own. This deal could not have been done before the deal with GM.

Fiat's struggling carmaking unit owns the Fiat, Alfa Romeo and Lancia brands. The Fiat group also owns a 56 percent stake in Ferrari.

"This operation is essential for the future development of Alfa Romeo," said Fiat Chief Executive Sergio Marchionne.

Fiat is interested in expanding both the Alfa Romeo and Maserati businesses globally. Last year, Fiat hired former BMW marketing executive and Rolls Royce CEO Karl-Heinz Kalbfell to run Alfa and put together a new business plan for the division. Alfa last year sold 180,000 cars, but it hasn't marketed in theU.S. since 1991. Maserati sold 4600 cars last year, but has targeted 10,000 a year with about a third of that designated for North America where it has restarted distribution.

It is likely that little cash is changing hands in the deal as the combination benefits both Ferrari and Fiat. Fiat posted an operating loss of $1.3 billion in 2003, and is expected to post a $1 billion-plus loss for 2004. Since 2000, Fiat has posted net losses in excess of $14 billion. In 1990, Fiat ranked second to Volkswagen in Europe, with sales of 1.9 million cars and a 13.8-percent share. But the $27 billion company is now Europe's weakest automaker, with sales in 2004 falling to 1 million-nearly half the level of 15 years ago-and European market share of about 7.6 percent. Quality problems and a loss of its protected home market where Japanese and Korean brands have been winning over customers have generated the problems.

The Ferrari brand is viewed as very valuable, and Fiat stands to make out financially if the company sells shares to the public. The company is set to introduce the F430 Spider next month in Geneva. That car features a new 4.3-liter V-8 that produces 483 horsepower and 343 pound-feet of torque-88 more horsepower and 68 additional pound-feet than the 3.6-liter engine found in its predecessor, the 360 Spider. Paired with a Formula 1-derived gearbox that Ferrari says shifts gears in 150 milliseconds, the compact V-8 propels the F430 Spider from 0 to 62 mph in roughly 4.1 seconds and to a top speed in excess of 193 mph, according to Ferrari.
gavriil is offline  
Old 02-17-2005, 04:56 PM
  #11  
_____ like a rabbit
 
stangg172004's Avatar
 
Join Date: Jan 2005
Location: Edgewater, Chicago, IL
Age: 31
Posts: 8,596
Received 12 Likes on 10 Posts
this thread should be called: how to fuck up a damn good company for dummies!
:wtf: that pisses me off, why would ferrari say yes, GM will now own all of maserati, NO!
stangg172004 is offline  
Old 02-17-2005, 05:56 PM
  #12  
Banned
 
MADCAT's Avatar
 
Join Date: Apr 2004
Location: Toronto
Posts: 5,328
Likes: 0
Received 0 Likes on 0 Posts
Dumb and Dumber?
MADCAT is offline  
Old 02-17-2005, 08:00 PM
  #13  
Registered Member
iTrader: (1)
 
CGTSX2004's Avatar
 
Join Date: Feb 2004
Location: Beach Cities, CA
Posts: 24,300
Received 378 Likes on 198 Posts
Well...looks like Maserati's fucked again...
CGTSX2004 is offline  
Old 02-18-2005, 02:54 PM
  #14  
Moderator Alumnus
Thread Starter
 
gavriil's Avatar
 
Join Date: Oct 2000
Location: Washington DC (NOVA)
Age: 47
Posts: 16,399
Likes: 0
Received 3 Likes on 3 Posts
I dont think much will change for Maserati from this transaction.
gavriil is offline  
Old 02-18-2005, 07:28 PM
  #15  
Banned
 
M TYPE X's Avatar
 
Join Date: Feb 2005
Location: Champaign, Illinois
Age: 37
Posts: 7,309
Likes: 0
Received 0 Likes on 0 Posts
Nice to see that FIAT is investing their windfall PROFIT wisely.
M TYPE X is offline  
Old 03-02-2005, 12:46 AM
  #16  
Moderator Alumnus
Thread Starter
 
gavriil's Avatar
 
Join Date: Oct 2000
Location: Washington DC (NOVA)
Age: 47
Posts: 16,399
Likes: 0
Received 3 Likes on 3 Posts
Alfa, Maserati Won't Blur, Says Kalbfell - - Source: The Car Connection

Though they may now share one boss, don't expect Alfa Romeo and Maserati to lose their individual brand identities, asserted CEO Karl-Heinz Kalbfell in an interview with TheCarConnection.com. Last month's decision to strip Maserati away from Ferrari and merge it in with Fiat's Alfa arm came as one of a series of surprises following Fiat's $2 billion settlement with General Motors. Originally intended to help Ferrari grow revenues without diluting its own brand, Maserati will now help in the hoped-for revival of long-struggling Alfa, said Kalbfell.

Maserati, he noted, will retain a reasonably degree of autonomy. It will remain based in its ancestral home of Modena, Italy, and will continue to work with Ferrari's designers and engineers. But Maserati, Kalbfell added, "may enter new product categories and so it would need additional resources." There will almost certainly be ways for Alfa and Maserati to share, the CEO said, but he intends to ensure that this doesn't result in so-called "badge-engineered" products that are little more than clones with different sheetmetal skins. The challenge is to maintain a balance between cost and brand DNA, said the former Volkswagen senior executive, noting that VW is an example of how sharing platforms can work - or cause problems.

Kalbfell suggested there are a wide variety of new market segments Maserati could consider. One possibility was shown by the Italian design house, Bertone, which brought a show car modeled after the legendary Maserati Birdcage to this year's Geneva Motor Show. More likely would be something in the crossover/SUV category, along the lines of the Kubang concept vehicle Maserati rolled out several years ago. "We have some projects already in the pipeline," Kalbfell hinted.

Before the recent realignment, the goal was to steadily build Maserati into a sort of hybrid brand, not quite mass market, not quite as exclusive as Ferrari. Though sales weren't growing as quickly as hoped for, the target was 10,000 Maseratis annually. "The potential is there to grow much beyond 10,000," Kalbfell told TCC, quickly adding that the active word was, "potential." What he has in mind, he described as "the snowball effect. It is hard work in the beginning. I have to roll it and roll it, and then it rapidly grows bigger."

Maserati returned to the U.S. market several years ago, after more than a decade's absence. Kalbfell makes no secret of his desire to bring back Alfa, as well. That was one of the original but unachieved goals behind the brief tie-up between Fiat and GM. It is still possible, Kalbfell insisted, but it won't be easy. "I can make you a business plan for America in two hours," he said, "but people who know the American market know it won't work. The American market is unforgiving." It will take plenty of "homework" before Alfa is ready to lay out a plan, though Kalbfell has said, in recent weeks, he could imagine a U.S. launch anytime before at least 2007.

gavriil is offline  
Old 05-23-2006, 03:04 PM
  #17  
Senior Moderator
 
Yumcha's Avatar
 
Join Date: Dec 2001
Posts: 147,201
Received 15,146 Likes on 9,401 Posts
Post Fiat to boost stake in Ferrari to 85 percent

Fiat, which currently hold a 56 percent controlling share of Ferrari, plans to buy back an additional 29 to 34 percent of the company, AFX News today reported. Fiat sold 34 percent of Ferrari in 2002 to various investors, including Mediobanca. The organization then sold 5 percent of the company to an Abu Dhabi investor. As a part of an agreement signed when it sold the 34 percent stake, Fiat has the right to re-aquire the shares at any time. Moreover, Mediobanca no longer wishes to be involved with the automaker. Fiat plans to re-aquire the 29 percent of the company that Mediobanca still holds, company officials said, and will probably allow the Abu Dhabi company to retain its stake.
http://www.leftlanenews.com/2006/05/...to-85-percent/
Yumcha is online now  
Old 05-24-2006, 01:31 AM
  #18  
Pit Stop?
 
Minch00's Avatar
 
Join Date: May 2003
Location: Orlando FL
Age: 33
Posts: 13,526
Likes: 0
Received 1 Like on 1 Post
I wanna own stock in Ferrari............
Minch00 is offline  
Old 05-08-2007, 03:47 PM
  #19  
dom
Senior Moderator
 
dom's Avatar
 
Join Date: Apr 2003
Location: Toronto, Canada
Age: 42
Posts: 47,711
Received 797 Likes on 659 Posts
Ferrari waiting list now 24 to 36 months

The standard wait time for a new Ferrari has crept past the two year mark, according to a new report in the Wall Street Journal. In some cases, that figure is as high as three years.

Even with output at an all-time-high of 5,700 cars in 2006, supply can't match demand. A few years ago, chairman Luca Cordero di Montezemolo famously said Ferrari would never sell more than 5,000 cars a year. The company has since passed that milestone, but it has done nothing to meet the increase in demand from the Middle East and Asia.

As Ferrari dealer Michael Mastrangelo explained to the Journal, by the time a customer receives his or her car, a new or updated model has already been introduced — a frustrating scenario to say the least. Mastrangelo said his customers wait an average of three years. And when those cars do arrive, a price above MSRP is a safe bet.

“It’s very hard to come into a dealership right now and put in a new order if you are not already a customer,” Mastrangelo said. “When I get a young person, what I say is, let’s start with a used car.”
http://www.leftlanenews.com/ferrari-...html#more-5071

A license to print money.
dom is offline  
Old 05-08-2007, 03:51 PM
  #20  
Registered Member
 
danny25's Avatar
 
Join Date: Dec 2001
Location: TX
Age: 38
Posts: 8,869
Received 1 Like on 1 Post
too many damn rich people, and me not one of them
danny25 is offline  
Old 05-08-2007, 03:57 PM
  #21  
Registered Member
iTrader: (1)
 
CGTSX2004's Avatar
 
Join Date: Feb 2004
Location: Beach Cities, CA
Posts: 24,300
Received 378 Likes on 198 Posts
Makes the market for used Ferrari's that much better.
CGTSX2004 is offline  
Old 05-08-2007, 04:13 PM
  #22  
Registered Member
iTrader: (1)
 
mrsteve's Avatar
 
Join Date: May 2003
Location: Leesburg, Virginia
Age: 36
Posts: 36,475
Received 248 Likes on 174 Posts
Originally Posted by CGTSX2004
Makes the market for used Ferrari's that much better.



I met a guy a the track once who was on his 5th or 6th Ferrari and said he started off purchasing them used but always sold them for more than what he paid and thus he just started stepping up to the newer and faster models.
mrsteve is offline  
Old 05-08-2007, 04:19 PM
  #23  
fdl
Senior Moderator
 
fdl's Avatar
 
Join Date: Jul 2003
Location: Toronto
Age: 44
Posts: 21,673
Likes: 0
Received 1 Like on 1 Post
Why dont these fools save their time and money and just buy a Z06


fdl is offline  
Old 05-08-2007, 07:30 PM
  #24  
Moderator
 
Street Spirit's Avatar
 
Join Date: Mar 2004
Posts: 9,161
Likes: 0
Received 58 Likes on 34 Posts
Shoot! Guess I'll have to get something else then.

Street Spirit is offline  
Old 05-08-2007, 07:34 PM
  #25  
Unofficial Goat
iTrader: (1)
 
The Dougler's Avatar
 
Join Date: Jul 2006
Location: Toronto
Age: 34
Posts: 15,740
Received 107 Likes on 87 Posts
i bet many of them just go on over to a lambo.
The Dougler is offline  
Old 05-08-2007, 09:04 PM
  #26  
'Big Daddy Diggler'
 
bigman's Avatar
 
Join Date: Jun 2001
Location: Yonkers NY
Age: 38
Posts: 11,018
Received 4 Likes on 3 Posts
Originally Posted by fdl
Why dont these fools save their time and money and just buy a Z06


I'll be the first to jump on that bandwagon, but there is something about making necks break and the whale of the F1 sounding Ferrari v8's(430)
bigman is offline  
Old 05-08-2007, 09:14 PM
  #27  
fdl
Senior Moderator
 
fdl's Avatar
 
Join Date: Jul 2003
Location: Toronto
Age: 44
Posts: 21,673
Likes: 0
Received 1 Like on 1 Post
Originally Posted by bigman
I'll be the first to jump on that bandwagon, but there is something about making necks break and the whale of the F1 sounding Ferrari v8's(430)

Oh I agree. As Ferris Bueller once said: It is so choice. If you have the means, I highly recommend picking one up.
fdl is offline  
Old 05-08-2007, 10:31 PM
  #28  
I kAnt Spel guD
 
MrChad's Avatar
 
Join Date: Jul 2003
Location: Chicagoland, IL
Posts: 1,319
Likes: 0
Received 0 Likes on 0 Posts
Porsche there is no substitute
MrChad is offline  
Old 05-09-2007, 08:35 AM
  #29  
Eat my shorts!!
 
speedzer's Avatar
 
Join Date: Jul 2003
Location: Houston
Age: 39
Posts: 406
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by MrChad
Porsche there is no substitute

IMO Porsche must have the laziest designers of all time. Evertime a new generation comes out, it's more an evolution rather than a revolution....That IMO is why you don't see so much demand for them.
speedzer is offline  
Old 05-09-2007, 08:39 AM
  #30  
dom
Senior Moderator
 
dom's Avatar
 
Join Date: Apr 2003
Location: Toronto, Canada
Age: 42
Posts: 47,711
Received 797 Likes on 659 Posts
Originally Posted by MrChad
Porsche there is no substitute
dom is offline  
Old 05-09-2007, 09:10 AM
  #31  
Registered Member
iTrader: (1)
 
mrsteve's Avatar
 
Join Date: May 2003
Location: Leesburg, Virginia
Age: 36
Posts: 36,475
Received 248 Likes on 174 Posts
Originally Posted by speedzer
That IMO is why you don't see so much demand for them.


If Porsche only was capable of producing 5,700 cars a year as Ferrari is, the demand would certainly be extremely high.

Porsche sold nearly 97,000 cars last fiscal year; outselling Ferrari more than 17:1.
mrsteve is offline  
Old 05-09-2007, 10:05 AM
  #32  
Registered Member
iTrader: (1)
 
CGTSX2004's Avatar
 
Join Date: Feb 2004
Location: Beach Cities, CA
Posts: 24,300
Received 378 Likes on 198 Posts
Originally Posted by speedzer
IMO Porsche must have the laziest designers of all time. Evertime a new generation comes out, it's more an evolution rather than a revolution....That IMO is why you don't see so much demand for them.
No demand for them? You can't be serious. Porsche is one of the few remaining independent manufacturers because it has been such a smashing sales success. Their margins are some of the highest in the industry and the only way you can manage that is because you have plenty of demand.

But at the end of the day, if I got to pick between a new rear-engined Porsche and a used mid-engined Ferrari, the Ferrari wins every time.
CGTSX2004 is offline  
Old 05-09-2007, 10:07 AM
  #33  
Senior Moderator
 
F23A4's Avatar
 
Join Date: Sep 2002
Age: 51
Posts: 16,498
Received 491 Likes on 327 Posts
Originally Posted by fdl
Why dont these fools save their time and money and just buy a Z06


F23A4 is online now  
Old 05-09-2007, 10:09 AM
  #34  
Senior Moderator
 
fsttyms1's Avatar
 
Join Date: Aug 2002
Location: Appleton WI
Age: 44
Posts: 81,359
Received 3,005 Likes on 2,085 Posts
Damn stupid rich people ruining my hopes and driving up the prices of my future dream car I hate rich people
fsttyms1 is offline  
Old 05-09-2007, 10:10 AM
  #35  
Senior Moderator
 
fsttyms1's Avatar
 
Join Date: Aug 2002
Location: Appleton WI
Age: 44
Posts: 81,359
Received 3,005 Likes on 2,085 Posts
Originally Posted by bigman
but there is something about making necks break and the whale of the F1 sounding Ferrari v8's(430)
fsttyms1 is offline  
Old 05-09-2007, 10:28 AM
  #36  
dom
Senior Moderator
 
dom's Avatar
 
Join Date: Apr 2003
Location: Toronto, Canada
Age: 42
Posts: 47,711
Received 797 Likes on 659 Posts
Originally Posted by CGTSX2004
No demand for them? You can't be serious. Porsche is one of the few remaining independent manufacturers because it has been such a smashing sales success. Their margins are some of the highest in the industry and the only way you can manage that is because you have plenty of demand.


But at the end of the day, if I got to pick between a new rear-engined Porsche and a used mid-engined Ferrari, the Ferrari wins every time.
dom is offline  
Old 05-09-2007, 10:44 AM
  #37  
99 TL, 06 E350
 
Black Tire's Avatar
 
Join Date: Sep 2006
Location: Toronto
Age: 39
Posts: 5,030
Received 163 Likes on 109 Posts
<---waiting for his Ferrari...waiting longer to save the money for it.
Black Tire is offline  
Old 05-09-2007, 08:39 PM
  #38  
I kAnt Spel guD
 
MrChad's Avatar
 
Join Date: Jul 2003
Location: Chicagoland, IL
Posts: 1,319
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by speedzer
IMO Porsche must have the laziest designers of all time. Evertime a new generation comes out, it's more an evolution rather than a revolution....That IMO is why you don't see so much demand for them.
This statement in a "Honda" forum is the definition of irony.
MrChad is offline  
Old 03-18-2008, 05:17 PM
  #39  
Senior Moderator
 
Yumcha's Avatar
 
Join Date: Dec 2001
Posts: 147,201
Received 15,146 Likes on 9,401 Posts
Ferrari: Jean Todt steps down as CEO

From Autoblog...

Ferrari today concluded its assembly of shareholders at which Jean Todt stepped down as chief executive officer. Todt was originally hired to head the F1 racing team in 1993, was promoted to general manager of the company in 2003 and CEO in 2006. After relinquishing the role of general manager to Amedeo Felisa in 2006, Todt handed over control of the Scuderia to Stefano Domenicali at the start of this year.

Felisa will now also succeed Todt as CEO. Meanwhile Todt will stay on in certain limited capacities for Ferrari, including a seat on the board, the presidency of both Ferrari Asia Pacific and Ferrari West Europe as well as representation of the Scuderia on the FIA World Council. Todt announced that he had stayed on as chief executive only until company president Luca di Montezemolo completed his term as head of industrial group Confindustria, and that he was now moving on to dedicate more time to himself and his other interests. The shareholders also re-elected Montzemolo as president and Piero Ferrari as vice-president, while renewing the terms of all 13 directors, including Montzemolo, Ferrari, Todt and Felisa as well as Fiat chief Sergio Marchionne, Sergio Pininfarina and seven other board members. For more information, see the press release after the jump.
Yumcha is online now  
Old 07-03-2012, 07:53 AM
  #40  
Alright, alright, alright
 
Legend2TL's Avatar
 
Join Date: Nov 2004
Location: Maryland
Posts: 12,248
Received 1,721 Likes on 1,126 Posts
Ferrari: Sergio Pininfarina Dies

http://www.slashgear.com/legendary-f...dies-03236860/

, what a brilliant and talented designer.
Legend2TL is offline  

Thread Tools
Search this Thread
Quick Reply: Ferrari: Sales, Marketing, and Financial News


Contact Us - Advertising - Cookie Policy - Privacy Statement - Terms of Service

© 2019 MH Sub I, LLC dba Internet Brands

We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.