April 20, 2011, 9:20 a.m. EDT
By Frankfurt Bureau
FRANKFURT (MarketWatch) -- Fiat SpA's (F.MI) Ferrari luxury brand could increase annual sales to 8,000 cars within eight years, helped by growth in emerging markets, German trade magazine Auto, Motor und Sport reports Wednesday citing the unit's Chairman Luca Cordero di Montezemolo.
Ferrari targets between 6,800 and 7,000 car sales this year, with China accounting for 500 vehicles, di Montezemolo is cited as saying. China will become the brand's third-largest market after the U.S. and Germany in 2011, he said.
Di Montezemolo said Fiat has no plan to sell a stake in Ferrari, referring to recent market rumors.
Magazine website: www.auto-motor-und-sport.de
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