Its ironic isn’t it that a company that makes a handful of cars a year can still be the most profitable part of the Italian motor group FIAT.
In view of the trends in the motor trade at the moment, it must tell you something either about the amount of real wealthy buyers that are still out there despite the difficult times that we ordinary folk find ourselves in, or perhaps highlights the amount of profit there is in building “supercars”.
Well whilst it’s claimed to be the most profitable part of FIAT, its figures really surprised me, with Ferrari posting a 54 million euro profit for the first three months of 2009 and that’s only £49 million in English money and if the 12 months perform like that, it’s a little under £200 million pounds for the full year and I have to say, I thought it would have been more.
I don’t know if I am more surprised because I thought it would be more, or if I am surprised that FIAT cars themselves make less than Ferrari
I guess it’s the Ferrari Formula One team that gives that impression, as its been strongly rumoured that the Ferrari F1 budget is around $414.9 million dollars a year
Contrast Ferrari’s profits of £49million with those recently announced by Tesco’s who made £3.1 Billion pounds in the last 12 months, making them over 15 times as profitable as Ferrari.
So what next, Tesco F1?
