MOTOR SHOW: Ferrari Set For Record Sales This Year

FRANKFURT (Dow Jones)--Italian luxury sports car maker Ferrari is set for a record year with expected sales of 7,000 vehicles, and it plans to stay at that level in 2012 as demand keeps growing in China and other emerging markets, the company's chairman said Tuesday.  "It will be a year to remember in the history of Ferrari," said Chairman Luca di Montezemolo at a press briefing after presenting the 458 Spider, a hard-top convertible, at the Frankfurt Motor Show.  In 2010, Ferrari sold 6,800 cars.  In the first half of 2011, Ferrari delivered 3,577 cars to its network of dealers around the world--12% more than a year earlier.  As an example of the growing importance of emerging markets, China has displaced Germany as Ferrari's second biggest, he said. The U.S. is still No. 1.

Di Montezemolo said he isn't concerned about the repercussions of a possible economic slowdown because Ferrari produced fewer cars than requested by the market--a policy it will maintain to protect the exclusivity of the brand.  "It has always been a must for us," he said, adding that the intention is also to preserve the re-sale value of used Ferraris.  Makers of luxury goods like super sports cars are usually immune to economic downturns because their clients are rich enough to avoid having to change their purchasing habits.  Di Montezemolo said Ferrari is working on its next new model but it won't be ready until the end of next year.

Source [www.wsj.com]