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Marchionne: Ferrari is not for sale

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Marchionne: Ferrari is not for sale

According to Fiat Chrysler Automobiles CEO Sergio Marchionne, one of its most coveted brands – supercar manufacturer Ferrari – is worth $15 billion, but it’s also definitely not up for grabs.

Actually, according to Marchionne, which also put an end to speculations about his early departure by acknowledging he is ready to see through the new five-year business plan, Ferrari was not for sales, is not for sale and never will be. He also commented on the Wall Street analysts continuation of drastically underestimating the small car maker’s value.

“You keep on getting your numbers wrong, so I might as well teach you the right valuation method,” Marchionne said. “But to be absolutely categorical about this — Ferarri is not for sale.”

While the real amount is immaterial, he said the current $4.6 billion to $7.5 billion evaluation is easily double and with Ferrari at the top of the game the speculations if FCA should or would sell the brand should be put to rest.

“The only thing we do know for sure is that it is a phenomenal repository of value, and it should never ever be underestimated,” he said. “Whenever you think we are going get hard pressed for cash, look at this.”

At the moment, Ferrari purposely caps its production to 7,000 vehicles a year, while a new model is released each year and they all have a lifespan of around four years. The CEO also added that due to the ongoing expansion towards new markets, Ferrari could easily top 10,000 units sold each year.

by Aurel Niculescu (my Google+) - Wednesday, May 7th, 2014 - filed under Ferrari, Industry, News. Image credit: .
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