Ferrari skids in tough economic climate

Ferrari skids in tough economic climate

Despite Ferrari’s attempts at denying it has been affected by the global economic crisis, the Italian supercar maker has announced plans to lay off up to 10 percent of its workforce this week. This comes after last month’s announcement that Ferrari sales had dropped from 600 cars per month to just 92 sales worldwide. As many as 300 workers could be sacked after negotiations with Italy’s trade unions.

Another extreme measure for Ferrari is a 20-day holiday shutdown this year to ward off huge stockpiles of parts and inventory. Even with the new California launching and the recently announced Scuderia Spider 16M on the way, and despite a two-year waiting list for its product globally, distributors around the world are apparently sitting on too much inventory. Sales of the V12 models have reportedly stalled and F430 sales have slowed to a trickle since the California was announced. Ferrari is pulling down the hatches and preparing to weather the storm, Ferrari fans are hoping that this might one day mean lower prices for Italy’s finest vehicles.

Despite Ferrari’s attempts at denying it has been affected by the global economic crisis, the Italian supercar maker has announced plans to lay off up to 10 percent of its workforce this week. This comes after last month’s announcement that Ferrari sales had dropped from 600 cars per month to just 92 sales worldwide. As many as 300 workers could be sacked after negotiations with Italy’s trade unions.

Another extreme measure for Ferrari is a 20-day holiday shutdown this year to ward off huge stockpiles of parts and inventory. Even with the new California launching and the recently announced Scuderia Spider 16M on the way, and despite a two-year waiting list for its product globally, distributors around the world are apparently sitting on too much inventory. Sales of the V12 models have reportedly stalled and F430 sales have slowed to a trickle since the California was announced. Ferrari is pulling down the hatches and preparing to weather the storm, Ferrari fans are hoping that this might one day mean lower prices for Italy’s finest vehicles.

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