Ferrari to cut production to protect brand
09/05/2013
Luca Cordero di Montezemolo said despite growing sales, production would drop to less than 7,000 vehicles. The luxury carmaker sold 7,318 cars last year.
"The strength not to listen to people who say 'your competitors will benefit from this' is a choice I learned from (company founder) Enzo Ferrari, who used foresight in enhancing the value of the brand," he told a press conference.
The company plans to invest EUR 100 million in the next two years on improvements at its factory in Maranello.
It earned EUR 80 million euros in the first quarter with 1,798 cars sold.
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