Italian Automotive Design Company Pininfarina Reports Net Loss for the First Half of 2013 image

Pininfarina, the Italian automotive design company, said that during the first half of the year it reached a net loss of 6.3 million euro.

The Italian company reported its operating loss for the first half of 2013, down 2.9 million euro from 7.7 million during the same period last year. Revenue during this period increased to 40 million, compared with 32.9 million last year. In 2012 Pininfarina reported a profit of 35.4 million.

Pininfarina, which has designed vehicles for Cadillac, Rolls-Royce, Maserati, Ferrari and other important automakers, said that it sees full-year revenue improving and predicts a “strong improvement” in the operating result for 2013.

At the end of May, the company presented the Pininfarina Sergio Concept at the 2013 Concorso d’Eleganza Villa d’Este, at Lake Como, in Italy. The model is a tribute to Sergio Pininfarina, which past away in 2012.

“The capacity of taking an existing car and making a unique product reinforces our coachbuilding roots. The concept encapsulates the three basic values of Pininfarina’s DNA – elegance, purity and innovation,” said Fabio Fillipini, the Pininfarina design director, during the Geneva Motor Show, back in March.

The Pininfarina Sergio Concept, resembles the Ferrari 458 Spider, but is 10% lighter than the supercar thanks to its carbon fiber body. The model can go from 0 to 100 km/h on 3.4 seconds and reach a top speed of 320 km/h.

Source: Reuters