Chrysler 2011 Annual Report Download - page 113

Report on
Operations
Operating
Performance
by Sector
112
Sponsorship and licensing activities included major renewals, such as the Puma agreement, in addition to a new
deal with the prestigious Swiss watchmaker Hublot.
Web-based promotion also continued with a steady increase of followers on social networks, such as Facebook
(now with more than 5.5 million fans) and Twitter. The official Ferrari Magazine made its digital debut and is now
available in browser version or as an Ipad/Android application.
A total of 7,044 cars were sold to end customers, representing a 9.2% increase over 2010.
North America remained Ferrari’s no. 1 market (accounting for 26.5% of worldwide sales), with 1,866 vehicles
sold to end customers (+11.6% over 2010). In Europe, a total of 3,162 vehicles were sold, representing a 4%
increase over the prior year. In Western Europe, the strongest performances for the year were the UK with 543
vehicles sold (+16%), Germany with 695 vehicles sold (+12.6%) and France with 345 vehicles sold (+8.8%). By
contrast, sales in Italy contracted 15% to 586 vehicles. For Eastern Europe, the brand’s most notable gains were
in Russia (sales up 16%) and the Czech Republic (up 24%).
In the Middle East and Africa, a total of 505 vehicles were sold to end customers (+6%), with particularly
strong performance in the United Arab Emirates (which accounts for 41.6% of sales in the region), where sales
increased 45% over the prior year to 210 vehicles. The upward trend continued in the Asia-Pacific region,
with a total of 1,394 cars sold (+21% over 2010) on the back of excellent performance in China, Australia and
Singapore, which more than offset a drop in volumes in Japan (-23.8% to 313 vehicles) linked to economic
conditions. In China, a key market for Ferrari, sales were up 75% to 449 vehicles. Performance was also strong
in Hong Kong (+19.7% to 188 vehicles), Australia (+9.5% to 150 vehicles), Singapore (+66% to 83 vehicles) and
Indonesia (+65% to 43 vehicles).
A total of 7,001 type-approved cars were shipped to the network during 2011, representing a 6.5% increase
over the prior year (including non-type approved cars, +9.5% to 7,195 vehicles). Volumes were higher for both
8-cylinder models (+1.6% over 2010) and 12-cylinder models (+61.6% over 2010), which reflected strong sales
for the new FF.
In terms of shipments, North America remained Ferrari’s no.1 market with 1,958 vehicles shipped during the
year, accounting for 27.2% of the global total (+145 vehicles compared to 2010). Performance was particularly
positive in China, Hong Kong and Taiwan, where shipments were up 63% over the prior year to 777 vehicles.
In Europe, the most significant gains were: Germany, with 705 vehicles shipped (+15% vs. 2010); France, with
362 vehicles shipped (+12%); and the UK, with 574 vehicles shipped (+23%).
Innovation and Products
A number of highly innovative new products were rolled out during 2011 beginning with the FF, which combines
extreme performance – including application of the patented 4RM traction system capable of handling surfaces
with a very low grip co-efficient – with the feel of a GT and a highly-innovative design. Another addition was the
F458 Spider, which offers the performance of a true sports car with aluminum hard-top that matches the interior
climate control and acoustic characteristics of a closed vehicle and is also lighter than the traditional folding
soft-top. The F458 Spider is equipped with the same V8 engine as the coupé version, which was named “Best
Performance Engine” at the 2011 International Engine of the Year Awards.
Ferrari has continued to invest in development of low emission technologies and now provides the High Emotion
Low Emission (HELE) system on all new models.
Significant investment has also gone into research at the Scaglietti facility, a leading center for the study of
aluminum and aluminum alloys whose results have enabled the company to substantially reduce the weight of
its vehicles.