Ferrari might be worth $15 billion, according to Chrysler and Fiat CEO Sergio Marchionne, however it is even now not for sale, and on no account motivation be.
Marchionne, who is presiding greater than a day-long summit in Golden-brown Hills today to reveal the five-year strategic plan for Fiat and Chrysler, said Wall Street analysts pick up again to drastically underestimate the value of Ferrari.
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He said Ferarris value is easily alter ego the $4.6 billion to $7.5 billion they have estimated. But, he said the sum is immaterial because the supercar brand is not for sale.
Analysts have long speculated Fiat either must or motivation be bought the powerful brand. Marchionne said Ferrari is essentially worth alter ego their valuations, especially if the brand were to increase dimensions to 10,000 vehicles a year as it expands to new markets.
You prevent on getting your numbers in the wrong, so I might as well teach you the right valuation method, Marchionne said, partially in jest. However to be agreed categorical roughly this Ferarri is not for sale.
Marchionne told analysts to remember that every time they place a value on Fiat Chrysler Automobiles, especially when the company is looking to borrow capital to support growth of supplementary brands. He too said it is tricky to accurately estimate a value for Ferrari because a price would depend greatly on market conditions.
The only thing we do know for sure is that it is a phenomenal depository of value, and it must on no account ever be underestimated, he said. Each time you cogitate we are going cause hard pressed for cash, look at this.
Today Fiat deliberately limits Ferrari production to 7,000 vehicles a year. A new exemplar is introduced every year, and every has a four-year existence. They have 8- and 12-cylinder engines.
The nearly all recent, the imperfect version LaFerrari, has sold made known its allotment of 499.
Ferrari illicit the Maserati luxury brand for seven time, ending in 2005. It is one of three luxury brands that are now part of Fiat Chrysler Automobiles. The supplementary two are Maserati and Alfa Romeo.
Fiat Chrysler Automobiles is aiming to quadruple the worldwide sales of its Maserati luxury brand by 2018, Harald Wester, CEO of the brand, said Tuesday in Golden-brown Hills.
The ambitious worldwide expansion is based on the companys plans to launch six new or redesigned cars or crossovers greater than the next five time.
Against altogether odds, Maserati is taking on the boring giants, the giants of the expected, the predictable, Wester, who is too CEO of Alfa Romeo, said today in Golden-brown Hills.
Wester said Maserati, founded in 1914, struggled in the 1960s and 1970s however was eventually reinvigorated by Fiat. Fiat acquired Maserati in 1993 however the brands worldwide sales have been modest.
Maseratis sales have adult from 8,600 in 2008 to 15,400 in 2013.
Wester said the companys sales must grow to further than 75,000 by 2018.
Fiat Chrysler Automobiles plans to achieve that rapid growth by launching the Levante SUV this year, followed by the Alfieri Coupe and convertible and the GranTurismo between 2016 and 2018.
By 2018, we motivation be covering the luxury market in its entirety, Wester said. We motivation be building ultra luxury automobiles with timeless style, we plan to prevent our association to our racing heritage in tact, and we motivation further evolve our unique sculpture and Italian style.
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