There's no question that buying a Ferrari is an expensive proposition. But so is owning one. The cost of insurance, fuel, tires and maintenance can be crushing, but it now becomes much easier, as Ferrari announces a free seven-year maintenance program for newly purchased vehicles.
The program is being launched in markets around the world, and has just been announced for North America. It covers regularly scheduled annual maintenance at the dealership, including labor, replacement parts and lubricants.
That makes it a no-brainer for owners to keep their cars in peak condition, but should also give some peace of mind to future buyers of used Ferraris dating back to this point, knowing that the vehicle has been properly maintained by Ferrari-trained staff. Curiously, however, while the program encompasses the 458 Italia, FF and California, the 599 appears to be left out.
The announcement comes on the back of the most productive and profitable half for Ferrari, whose net profits climbed by nearly a quarter, based on delivery of 11.8 percent more cars than the first half of last year. Follow the jump to read both press releases.
Ferrari introduces an exclusive new customer care service with the free seven-year Ferrari Genuine Maintenance Program
Englewood Cliffs, NJ, July 26th 2011- Ferrari North America is happy to announce a new customer care service: clients ordering a 2012 Ferrari California, 458 Italia or FF from the authorised dealership network will be entitled to a free seven-year scheduled maintenance program.
Genuine Maintenance is Ferrari's exclusive service that ensures that its vehicles are maintained to the highest standards to meet the company's strict requirements for safety, performance and reliability. The program is unique – this is the first time an automobile manufacturer offers such coverage and is evidence of the attention paid by Ferrari to ensuring its clients enjoy the maximum peace of mind. The Genuine Maintenance program covers each individual vehicle, and thus extends to any eventual subsequent owner during the entire seven-year period.
The program covers the scheduled maintenance labour at standard service intervals (12,500 miles, or once a year, with no restriction on total mileage) along with the relative genuine spare parts, and approved lubricants. The advantage to the owner is the assurance that the vehicle will be subject to regular annual inspections by Ferrari-trained personnel using Factory-
approved dedicated diagnostic equipment.
This service will be progressively available in all Ferrari markets in the next few months and will involve the global authorized dealership network.
With the introduction of the Ferrari Genuine Maintenance seven-year program, the Prancing Horse continues to set the standard throughout the industry for customer care.
FERRARI CELEBRATES BEST SIX MONTHS IN ITS HISTORY IN TERMS OF REVENUES (+19.6%) AND CARS DELIVERED 3,577 (+11.8%)
- Net profits of 91.8 million Euros (+23.5%)
- Record industrial net cash of over 650 million Euros
- Exceptional results in the USA (+23%) with China (+116%) now second largest market
- Success too for the 458 GT and Challenge: 176 sold for racing worldwide
July 2011 – The board of directors of Ferrari S.p.A. met today under the chairmanship of Luca di Montezemolo to examine the company's financial results for the first six months of 2011.
On June 30th, Ferrari recorded excellent financial results with two indicators reaching record levels: revenues of 1,080 million Euros (+19.6%) and 3,577 cars delivered to the network, an increase of 11.8% over the first half of 2010.
These results come thanks to the success of the two 12-cylinder limited series - the 599 GTO and the SA Aperta - and the strong performance of the 8-cylinder models with the California the standard-bearer in the GT sector and the 458 Italia the benchmark in the sports car area.
100% of the Ferraris built were personalised by clients who will also be able to avail of the new Tailor Made programme from September. This innovative programme enables clients to create an individual car, using exclusive and unique materials, colour and trim with the support of a dedicated team, just as if it were a bespoke suit.
Ferrari underscored the traditionally close links between its road cars and the racing world with "track" versions of the 458, of which 176 were sold for GT competitions across the globe and the Ferrari Challenge one-make series. In fact, this year saw the introduction of the new Asia Pacific series to the latter with round two held last Sunday in Shanghai in front of 20,000 spectators.
The FF hasn't yet made any contribution to the company results. Deliveries of Ferrari's first four-wheel drive four-seater have only just begun but the car's unveiling met with great success on the various markets.
Ferrari's trading profit grew by 19 million to 135 million Euros, while its net profit jumped by 23.5% (91.8 million Euros).
The company's industrial net cash position is also excellent, having reached in excess of 650 million Euros on June 30th. This record figure was achieved whilst continuing to invest very heavily in product development, and with a net cash flow for the first half amounting to 222 million Euros before dividend distribution, an unprecedented achievement in any six-month operating period.
With regard to sales, North America maintained its position as Ferrari's no. 1 market with 939 vehicles delivered during the six-month period, an unprecedented leap of 23.2% vs. 2010. Volumes were also higher in the Greater China region (Mainland China, Hong Kong and Taiwan) with 378 vehicles delivered in the first six months (+116% vs. 2010). This performance means that the main Asian market is now Ferrari's second largest worldwide, overtaking Germany where volumes remained the same as last year with 337 cars delivered.
There were also impressive results in the UK where deliveries rose sharply by over 50% up to 289 cars, while other nations are in line with the first half of 2010.
"If the trend for the first six months continues at these levels in the second half of the year, 2011 will be remembered as one of the best in Ferrari's history, taking us back to the record results of 2008. This is a demonstration of the soundness of the strategy we've adopted in terms of market expansion and constant product innovation," commented Luca di Montezemolo. "Furthermore, we also recently began deliveries of the new FF and we're taking our first orders from India – the impact of both of these factors will only be seen in the second half of 2011."
The news from Ferrari's brand activities is also positive: retail grew by 45%, thanks in part to new openings that take the total number of Ferrari Stores worldwide to 46. Topping the rankings in that regard is the Store in the Ferrari World theme park in Abu Dhabi which recently welcomed its 600,000th visitor.
On the licensing and sponsorship fronts, contracts with strategic partners such as Puma were extended in the first six months of 2011 too.
Ferrari is also very much involved in online activities. Aside from the ongoing success of the www.ferrari.com website, our social network presence continues to grow. Ferrari's official Facebook page now has almost 5 million friends and our online sales have increased by 40%. The latest news is that a new digital version of the Ferrari Official Magazine has also been released.