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Fiat to limit Ferrari output despite huge demand from China, other markets

Published on May 7, 2014 6:20 AM
 
The very first of only 499 2014 Ferrari La Ferrari to come off the assembly line is shown outside the Chrysler Group complex May 6, 2014 in Auburn Hills, Michigan. Fiat Chrysler Automobiles will keep a lid on production of new Ferraris over the next five years despite huge demand in emerging markets like China, Fiat chief Sergio Marchionne said on Tuesday. -- PHOTO: AFP

DETROIT4 (AFP) - Fiat Chrysler Automobiles will keep a lid on production of new Ferraris over the next five years despite huge demand in emerging markets like China, Fiat chief Sergio Marchionne said on Tuesday.

Mr Marchionne said in Detroit that Ferrari sold 7,000 of its supercars in 2013 and expects to sell the same number in 2018.

While rising wealth in China and other emerging markets could sustain expanding Ferrari production to 10,000 units annually, Ferrari’s management have agreed not to expand production for now.

“We want to keep production capped to preserve the brands uniqueness, while continuing to search for opportunities in emerging markets but maintain exclusivity in mature ones,” said Mr Marchionne.

 
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