Ferrari will build more cars than previously planned when Sergio Marchionne, CEO of parent Fiat Chrysler Automobiles, takes on the top position at the supercar maker this October.
The plan goes against what Luca Cordero di Montezemolo wanted for the brand, as he resigned as Ferrari chairman after 23 years, following a clash with Marchionne. While Montzemelo wanted to limit the company’s volume to 7,000 cars per year to protect the brand’s exclusivity, Marchionne hinted in May at the automaker’s potential to sell around 10,000 vehicles annually.
Marchionne said he was planning to gradually increase vehicle production of models such as the $1.3 million LaFerrari to keep up with the increasing numbers of ultra-wealthy customers.
“If that class increases, we should be able to follow them. (Otherwise) the waiting list will become too long, and people get tired,” Marchionne said on Thursday at an event in Balocco, Italy.
Ferrari, 90% owned by Fiat, is a key component in Marchionne’s plan to expand into the luxury cars area after the merger that created Fiat Chrysler Automobiles. Montezemelo, who had been in charge of Ferrari since 1991, wanted to maintain Ferrari’s autonomous status and keep it from becoming a subsidiary like Volkswagen Group’s Lamborghini. According to the executive, the group does not need to raise money as to finance his $71 billion expansion plan.
Marchionne becomes the new Ferrari CEO the same day that shares of the merged FCA are set to start trading in New York.
By Gabriela Florea