Ferrari Chair Predicts Continued Growth for Brand

Ferrari Chair Predicts Continued Growth for Brand

Despite major pockets of the world’s economy suffering significantly, sales seem to be on track for Ferrari to grow as a company even more than it did last year.

“From the latest data I’ve seen, we are on track to make this year another record year,” Ferrari Chairman Luca Cordero di Montezemolo said to Automotive News Europe.

Even with strong sales, that’s big talk for the Fiat subsidiary given that it’s also dumping money into developing a new engine for its Formula 1 team. Still, in terms of production cars, things have arguably never looked better for Ferrari. It unveiled the F12 Berlinetta in Geneva last march and is boasting sales numbers that are up seven percent over the first six months of 2011.

Furthermore, sales of the brand’s more expensive V12 models rose 66 percent in the first half of the year, helping to boost the company’s operating margins to 13 percent.

[Source: Automotive News]