By on May 3, 2016

sergio-marchionne

Sergio Marchionne added another CEO title to his résumé yesterday, taking control of Ferrari, where the Fiat-Chrysler head already served as chairman.

He replaces former CEO Amedeo Felisa, who retired after 26 years with the company. Felisa remains on the independent automaker’s board of directors, where he will serve as a technical advisor.

Marchionne now has full control of the company he spun off from Fiat Chrysler Automobiles at the beginning of the year. Two years ago, he succeeded former chairman Luca di Montezemolo, who stepped down in protest of Marchionne’s plans for the brand’s future.

Those profitability plans are twofold, and include an expansion of the brand’s presence in non-automotive luxury goods, a direction started by di Montezemolo. Last year, the automaker said it would increase annual vehicle production to 9,000 units by 2019.

The news of Marchionne’s appointment comes as the company announced a record first-quarter profit, spurred by a 15 percent increase in sales. That translates into a 19 percent boost in net profits — 78 million euros, or $89.5 million.

Marchionne was clearly pleased at the company’s numbers, assuring investors during a speech on Wall Street that the good times were just beginning.

“I was the one that pitched the Ferrari case on the road. It’s not going to be a different case than the one that I presented to the capital markets at the end of last year,” Marchionne said in the Detroit Free Press. “We are beginning, just now, to define the true potential on the passenger car side of what this house can actually deliver.”

The 1,882 vehicles Ferrari sold during the first quarter were part of the reason for the company’s record profit; cost-saving efficiencies were the other.

Marchionne said demand remains high for Ferrari vehicles, with orders extending into 2017. In an interview with Automobile Magazine, he confirmed that the LaFerrari Spider is a go, with potential customers already approached about the drop-top version of the brand’s supercar.

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16 Comments on “Sergio Takes the Helm at Ferrari; Confirms Record Profits and a LaFerrari Spider...”


  • avatar

    Although I prefer Lamborghini…
    Ferrari is a more comfortable car for me to drive. I wish Lamborghini would make their big V12 as spacious – and I can see why Ferrari sells so well.

    I recently went to a meet at Ferrari-Maserati Long Island where we drove to the Red Tomato restaurant. Some dude wrecked his Gallardo when a woman hit him making an illegal U-turn.

    Video of everything is available.

  • avatar
    VoGo

    Glad to hear about all the cost savings Ferrari achieved. That’s the message buyers of $250K+ cars want to hear about.

  • avatar
    laserwizard

    Ah, now we can have a Ferrari based off the Mazda Miata or whatever they call that thing these days.

  • avatar
    dukeisduke

    Because his ego wasn’t big enough already.

    • 0 avatar
      Lou_BC

      A case of bigger pay as opposed to bigger ego. His income is hard to tally due to all of his titles. He probably will be up around 100 million depending upon the performance of the companies he is responsible for.

  • avatar
    IHateCars

    A rebadged Ferrari T & C can’t be far behind!

  • avatar
    FreedMike

    Next up…Ferrari SUVs.

    You heard it here first.

    • 0 avatar
      Eyeflyistheeye

      I always thought the Ferrari FF was a “feeler” for a Ferrari SUV. If Sergio makes a Ferrari SUV, it will be derived from the Levante, which is derived from the Ghibli, which is derived from the Chrysler LX platform, which is ultimately derived from a 1990’s Mercedes. And that will wear a Ferrari badge, which is wrong on so many levels.

    • 0 avatar
      moff90

      Nope. He said multiple times that Ferrari will never make SUVs, autonomous cars and electric cars.

      • 0 avatar
        VenomV12

        Yeah right, Bentley is doing it, Lamborghini is doing it, Maserati is doing it and Rolls Royce will eventually do it too so they will, if they can make an FF, they can certainly make an SUV.

  • avatar
    Eyeflyistheeye

    If Luca di Montezemolo ran FCA, they might have had a honest, product-focused recovery instead of Sergio’s accounting shell games.

    After renting a Cherokee the other day and being smitten with it, I was doing further research and the most fitting epitaph seems to be that it’s a well-executed vehicle built with the typical FCA approach to quality, either you get a great one that will last you forever or one that has niggling problems throughout its life.

    Since Sergio never gave a damn about quality with his penny-wise and pound-foolish cost-cutting, this doesn’t bode well for Ferrari.

  • avatar
    VenomV12

    The LaFerrari Spider was confirmed eons ago by potential owners.

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