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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]