Ferrari will not be engulfed by Fiat Chrysler Automobiles image

After Chairman Luca Cordero din Montezemolo resigned from his position at Ferrari, FCA CEO Sergio Marchionne announced that there are no plans to fold Ferrari into the Fiat Chrysler group.

Montezemolo quit the Italian sports car maker after a clash with Marchionne over the auto brand’s strategy and the Formula One team’s poor results. He will step down from his position on October 13 and will be replaced by Marchionne.

Marchionne said at a joint press conference with Montezemolo that “There is no intention at all to integrate Ferrari into the rest of Fiat Chrysler […] the success of Ferrari is mainly due to its unique brand.”

Marchionne also said on Wednesday that a list of possible successors to fill the position exists in case he decides one day to leave the helm of the group, stating that “the list is there […] (the board) knows my preferences.” Marchionne added that his role as CEO of Fiat Chrysler depends only on the ongoing support of the board.

The CEO of parent Fiat stated this Wednesday that the luxury maker Ferrari will limit its annual sales to protect the brand’s exclusivity, but that it may gradually increase production from the current 7,000 units per year as to cater for rising demand. Sergio Marchionne repeated that a listing of the luxury carmaker was not on the agenda right now, but that the final decision would be made by the new board of the recently merged Fiat Chrysler Automobiles.

By Gabriela Florea