Ferrari eyes sales of 8,000 cars a year

Apr 20, 2011

Italian luxury sports car maker Ferrari, part of Fiat, expects to sell 8,000 cars a year within eight years, its chief executive told a magazine. -- PHOTO: AP

FRANKFURT - ITALIAN luxury sports car maker Ferrari, part of Fiat, expects to sell 8,000 cars a year within eight years, its chief executive told a magazine.

'A lot depends on India, Latin America and China. There is growth potential there,' German magazine auto motor und sport quoted Luca di Montezemolo as saying in an excerpt of an interview to be published on Thursday.

Sales this year will reach a record level of 6,800-7,000 vehicles, depending on how the market develops in Japan, where Ferrari sells 400 cars a year, Mr Montezemolo said.

In China alone, Ferrari expects to sell 500 cars this year, up from 300 last year, he said.

'China will be our third-biggest market after America and Germany at the end of 2011,' the magazine quoted him as saying.

According to auto motor und sport, Mr Montezemolo brushed off speculation that Germany's Volkswagen could take a stake in Ferrari, saying Fiat had no intention of selling shares. -- REUTERS