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Ferrari Greets China as Its Second Largest Global Market

It looks like the “Made in China” label has made it to the big leagues. We say that because China has become the second largest global market for Ferrari, which has seen a substantial growth in the first half of the year. Ferrari boosted it global sales by nearly 12 percent, achieving this way a record of 3,577 units sold between January and June, as the manufacturer revealed, with sales income rising at nearly 20 percent to $1.5 billion, as related by insidelane.com.

An important role was played by Asia in the significant growth. Deliveries to the Chinese mainland, Taiwan and Hong-Kong totaled 378 units in the first six months of the year, meaning a wave of 116 percent from the same period of last year. As a result, China was enabled to bypass Germany as Ferrari’s second biggest market, being short behind the United States with 939 units sold in the first six months of the year.

Luca Montezemolo, Ferrari’s Chairman, related the manufacturer’s fast growing sales worldwide to the expanded presence in to new markets and new products. Montezemolo expects that the sales growth will expand to the second half of the year as the company recently began shipping its Ferrari FF - the four seated, four-wheel-drive sport coupe.

Edwin Fenech, the president and CEO of Ferrari China, expects that the company’s sales in China won’t be affected by the nation’s slower economic growth or Beijing’s new car restrictions. He also mentioned that Ferrari will attend 25 motor shows in China this year, which is more than double from last year.

 
 
 
 
 

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