Iconic Italian design house Pininfarina is seeing red -- and it isn't the paint on one of its Ferrari concepts. The firm announced that it lost 8.1 million euros last year (that's $9.72M USD)... a frightening 238-percent increase over its 2004 losses.
Pininfarina estimates its production value last year at 383 million euros ($464M USD), with the same value at 557.8 million euros at the end of 2004 ($675.9M USD).
All is not bad news, Pininfarina officials believe. The firm is hard at work on five new models set to launch by July, which officials believe will improve its fortunes.
[Source: Reuters]
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Reader Comments (Page 1 of 1)
DCSBeemer @ Apr 1st 2006 10:26PM
How on earth is this possible? The Italian automakers and automotive-related companies seem to be making getting in trouble a habit (except Ferrari it seems), even though they make some of the world's most beautiful cars.
Alfa-Romeo, experienced financial trouble and was bought by Fiat. Lancia, same story, bought by Fiat. Maserati, almost the same story and eventually bought by Fiat. Ferrari, bought by Fiat. Fiat nearly went belly-up last year ,though I understand the whole Fiat-Group's future is looking much brighter this year, only after getting a nice "go-away" pay-off from GM.
What's truly funny and tragic about this is that all these mentioned manufacturers (not including GM here) were once competing AGAINST eachother, now they're all stacked up neatly into a hierarchy. Bottom-of-the-range Fiat, then higher up the food chain there's Lancia, then Alfa, then Maserati, then Ferrari.
But back to Pininfarina. We are talking the very same Pininfarina that styled some of the most memorable cars in existence, right? And they're in the red?
Ridiculous.
charlie @ Apr 2nd 2006 11:07AM
GM should hire them. If they think they could design something "american looking".
crazy88since88 @ Apr 2nd 2006 4:29PM
Sucks to be You! Those New Lambos are HOT HOT HOT! Next on my list!
pepd @ Apr 3rd 2006 2:49AM
except that no Lamborghini has ever been styled by Pininfarina...and Lancia's Thesis is higher up the so called 'food-chain' than any current Alfa in production.