Chelsey Smith, 24, of Fenton, Mich., poses for pictures next to a Ferrari 458 Italia(Photo: Todd McInturf AP)
AUBURN HILLS, Mich. -- Ferrari might be worth $16 billion, according to Chrysler and Fiat CEO Sergio Marchionnne, bar is is still not for sale -- and never desire be.
Marchionne, who is presiding over a day-long league here in our day to reveal the five-year strategic plan for Fiat and Chrysler, said Wall Lane analysts continue to drastically underestimate the assessment of Ferrari.
He said Ferarris assessment is easily double the $4.6 billion to $7.5 billion they have estimated. On the other hand, he said the amount is immaterial since the supercar brand is not for sale.
Analysts have sustained speculated Fiat moreover should or desire retail the powerful brand. Marchionne said Ferrari is actually worth double their valuations, especially if the brand were to increase level to 10,000 vehicles a year as it expands to new markets.
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You keep on getting your facts wrong so I might as well tutor you the right assessment method, Marchionne said, half in jest. Bar to be absolutely categorical around this Ferarri is not for sale.
Marchionne told analysts to remember that every measure they place a assessment on Fiat Chrysler Automobiles, especially when the company is looking to borrow money to fund growth of other brands. He and it is difficult to accurately estimate a assessment for Ferrari since it a price would depend greatly on market conditions.
The only thing we do be familiar with for sure is that it is a phenomenal repository of assessment and it should never ever be underestimated, he said. Whenever you like you think we are going step challenging pressed for cash, look at this.
In our day Fiat deliberately limits Ferrari creation to 7,000 vehicles a year. A new prototype is introduced every year and apiece has a four-year lifespan. They have 8- and 12-cylinder engines.
The largely fresh, the limited edition LaFerrari, has sold exposed its part of 499.
Ferrari controlled the Maserati luxury brand for seven years, finish in 2005. It is one of three luxury brands that are now part of Fiat Chrysler Automobiles. The other two are Maserati and Alfa Romeo.
Fiat Chrysler Automobiles is aiming to quadruple the global sales of its Maserati luxury brand by 2018, Harald Wester, CEO of the brand, said Tuesday in Auburn Hills.
The ambitious global expansion is based on the companys strategy to launch six new or redesigned cars or crossovers over the next five years.
Not in favor of every one odds, Maserati is taking on the boring giants, the giants of the expected, the predictable, Wester, who is and CEO of Alfa Romeo, said in our day in Auburn Hills.
Wester said Maserati, founded in 1914, struggled in the 1960s and 1970s, bar was eventually reinvigorated by Fiat. Fiat acquired Maserati in 1993 bar the brands global sales have been modest.
Maseratis sales have grown from 8,600 in 2008 to 15,400 in 2013.
Wester said the companys sales should escalate to additional than 75,000 by 2018.
Fiat Chrysler Automobiles strategy to achieve that rapid growth by launching the Levante SUV this year, followed by the Alfieri Coupe, Granturismo and Grancabrio sandwiched between 2016 and 2018.
By 2018, we desire be top the luxury market in its entirety, Wester said. We desire be building especially luxury automobiles with timeless style, we plan to keep our connection to our racing heritage in tact, and we desire further evolve our unique monument and Italian style.
