Ferrari to open a new Asian subsidiary
To serve the rich and royal individuals in Asia, Ferrari has announced it will be opening its first fully owned subsidiary in April this year. The subsidiary will be located in Japan and will help customers in the Asian market to acquire their favorite supercar.
Japan has been the No.2 market for Ferrari for many years after the United States. This move by the Italian supercar maker is a sign of gratitude towards Japan. Ferrari’s Asian chief Marco Mattiacc, stated, “The Japanese market is still going for a long time to represent the largest market in Asia,”. “This is a market that has almost 1.2 million high net worth individuals, one of the highest concentrations of wealth in the world, so there’s plenty of opportunity. The key factor is to keep being exclusive,” Mattiacci elaborated.
Ferrari recorded a massive increase in sales last year and thats actually become a matter of concern. The profits are pleasing but the exclusivity factor takes a beating. The carmaker sold a total of 6,465 vehicles last year and with the launch of this new subsidiary, expect those numbers to multiply.
Source: Motor authority