Thursday, November 5, 2009

Ferrari expects China to become one of its top five global markets

The affluent Chinese will be the target market of Fiat S.p.A.’s Ferrari supercar unit. A senior company official had said that it expects China will become one of its top five global markets in five years.

In an interview with Reuters, Marco Mattiacci, the company’s Asia-Pacific boss, said that Ferrari aimed to sell about 600 units a year in China over the same timeframe. Of course, the US would still be the most important market for Ferrari, however, it’s difficult to ignore China ’s potential to catch up with countries such as Germany and Italy , where annual sales were about 600 units. China was included in Ferrari’s top 10 markets, in which it had sold about 650 cars since entering the market five years ago. It isn’t only Fiat that is attracted to the rising affluence in China . In fact, Porsche AG, Ferrari’s German rival, unveiled its Panamera grand tourer on the eve of the Shanghai auto show in April.