2013 Year End U.S. Auto Sales by Brand

[King T]

Maserati Delivers Record 15,400 Cars In 2013

Only a couple of years ago, Maserati was selling around 6,000 cars per year on the back of two model lines: the Quattroporte and GranTurismo. Not surprisingly, many scoffed when the automaker announced in 2011 it would increase annual sales to 50,000 units and launch three additional model lines by the end of 2015.

Given its latest results, Maserati appears well poised to reach its goal. In 2013, the automaker managed to deliver 15,400 vehicles worldwide, a new record for the marque and quite the leap over the previous record of 8,600 vehicles delivered in 2008. The past year’s result was also a staggering increase of 148 percent on 2012’s 6,300-vehicle tally.

The stellar result was driven purely by the success of the new Quattroporte and Ghibli models, both of which were only launched during the year, meaning 2014 is likely to prove an even better year.

For the Quattroporte, which was released in March, shipments totaled 7,800 units. For the Ghibli, a total of 2,900 units were shipped between launch in October and year end. At December 31, order intake for the two new models totaled 13,000 units apiece. Combined shipments for the GranTurismo and GranCabrio were in line with 2012 at 4,700 units for the year.

All markets contributed positively to the significant year-over-year increase. The U.S. remained Maserati’s top market, accounting for 6,900 units. China was next, with 3,800 units.

Revenues totaled 1.65 billion euros (approximately $2.2 billion) for the year, with trading profit coming in at 171 million euros ($230 million), though this was hampered by a 65 million euro ($87.7 million) write-down of previously capitalized R&D for development of the new platform underpinning the latest Quattroporte and Ghibli models.

The next boost in sales should come when Maserati launches its highly anticipated Levante SUV. Due out later this year and tipped to become Maserati’s most popular model.

[King T]

Lamborghini increases worldwide sales for the third year in a row to 2,121 cars delivered to customers

• All-time high in V12 sales with the record of the Lamborghini Aventador (1,001 deliveries)
• USA largest single market followed by China
• Balanced presence across the three regions EMEA, America and APAC

Automobili Lamborghini S.p.A. looks back on 2013 as a year with great importance for the brand, the products and the sales.

‘‘In the year of our 50th anniversary, Lamborghini has delivered a very satisfying performance, confirming the strength of our product and commercial strategy’’, said Stephan Winkelmann, President and CEO of Automobili Lamborghini S.p.A. ‘‘Even in its last year of production the Lamborghini Gallardo has shown strong sales, whereas the Aventador has beaten all records of V12 model sales in our history. The USA and China are our biggest single markets, the Middle East and Japan are very strong and Europe is in line with the trend in our market segment.’’

With 129 dealers serving 46 countries, in 2013 worldwide deliveries to customers have been increased from 2,083 to 2,121 units. This development is outperforming the trend of the market in the super sports car segment.

Lamborghini is a global brand and sales distribution is well balanced among the three regions: EMEA (Europe, Middle East, Africa) 34%, America 36% and Asia Pacific 30%. Thanks to the Lamborghini Aventador, 2013 has been the most successful year of V12 model sales in the history of Lamborghini. 1,001 units have been delivered to customers (922 in 2012, +9%). Two and a half years after its market introduction the order bank for both, Coupé and Roadster version, still covers the next 12 months.

Although in its last year of production, the Lamborghini Gallardo confirms to be an evergreen super sports car with an excellent performance of 1,120 units sold in 2013 (1,161 in 2012). With a total of 14,022 units the Gallardo is by far the most-built Lamborghini ever.

In 2013 the company continued its path of sustainable development, enlarging its facilities and hiring 100 high qualified professionals in Sant’Agata Bolognese to sustain both, production demand and new projects, ending up with 1,029 employees by the end of the year.

Early in 2013 Lamborghini introduced the Aventador LP 700-4 Roadster, the ultimate open-air luxury super sports car, while the Gallardo Squadra Corse, presented at the end of the year, celebrated also the end of the Gallardo range with a best-in-class version, able to break many lap time records.

Limited edition one-offs like the Egoista, the Veneno and the Veneno Roadster were presented as an homage to the 50th anniversary of Automobili Lamborghini, alongside special anniversary editions of the Gallardo, the Aventador and the Aventador Roadster.

Celebrations for the 50th anniversary involved customers and fans with many events worldwide and the greatest reunion ever, held in May 2013 in Italy with more than 350 supercars, proving that the Lamborghini global community is stronger than ever.

[King T]

Ferrari posts record 2013 profits on restricted volume

Most automakers are after one thing and one thing only: selling more cars. Because, after all, selling more cars means making more money. Right? Well that's usually the case, but Ferrari has taken a different approach. Rather than try and sell more cars, Ferrari intentionally sold fewer models in 2013, yet it made more money.

The move was implemented after 2012 emerged as the strongest year in the company's history. Instead of pushing to sell even more cars, it opted to maintain a level of exclusivity by selling fewer – 5.4 percent fewer than the year before, to be specific – thereby ensuring that those it did sell were worth more. As a result, in 2013, Ferrari logged record turnover, profits and finances: on 2.3-billion euros of revenue (up 5 percent from the previous year), Ferrari recorded 363.5 million euros in profit last year – that's roughly $500M USD.

Before you go jumping to conclusions, though, bear a few factors in mind. For one, Ferrari's stakeholders aren't pocketing all that cash – they're reinvesting it into the company: over the course of the same year, Ferrari invested some 337 million euros – 464 million dollars – in research and development. And while the company's extensive merchandizing efforts continue to bring in more cash, at 54 million euros ($74M) raised last year, the branding operation still doesn't account for a sixth of overall revenues. Still, it's little wonder that the experts at Brand Finance have named Ferrari the world's most powerful brand for the second year running.

Don't worry about the shortage in supply affecting availability of Prancing Horses in America, either: the United States remains Ferrari's largest market by far, with 2,035 vehicles delivered last year – a 9-percent increase over the previous year. China remains the company's second-largest market with 700 deliveries, while Italy has, in the company's own words, "become a marginal market for the luxury car sector": last year, Ferrari sold just 205 cars in its home market, or barely more than a tenth of what it moves on our shores.

(Press Release)

2013 RESULTS: RECORD PROFITS, REVENUES AND NET FINANCIAL POSITION WITH FEWER CARS

BRAND FINANCE CONFIRMS FERRARI REMAINS WORLD'S MOST POWERFUL BRAND

Maranello, 18th February 2014 – Another extraordinary year for Ferrari. After 2012, its best ever year, the company decided to reduce the number of cars sold to maintain a high level of exclusivity and increasing their value over the time, improving results. The concept worked: there were reduced sales in 2013, but record turnover, profits and finances. This fact was highlighted during the meeting of the Ferrari Board of Directors held today in Maranello under the chairmanship of Luca di Montezemolo to examine the end-of-year financial results. While the number of homologated cars delivered to the network dropped to 6,922 cars (-5.4 per cent) in 2013, revenues rose by 5 per cent, eventually reaching an unprecedented 2.3 billion Euro.

End-of-year trading profits reached a record 363.5 million euro (+8.3 per cent). Ferrari also delivered net profits in excess of 246 million euro (+5.4 per cent). RoS (Return on Sales) leapt to 15.6 per cent, on a par with the very bestperforming companies in the luxury sector. The finishing touch to this very positive scenario comes from the significant investments made by Ferrari over the last 12 months, which, including Research and Development, reached an overall figure of 337 million euro (up from 324 million in 2012), almost 15 per cent of revenues. These investments were completely self-financed thanks in great part to the fact that the company's excellent cash flow has been on the increase for some time now, jumping again in 2013 and resulting in a net financial position of 1.36 billion euro, the best ever in Ferrari's history. "This is a very important result that comes as a direct consequence of the huge effort made by everyone. We wanted to maintain a high level of exclusivity, designing amazing products such as the LaFerrari, the 458 Speciale and the just launched California T, the result of significant investment in product and technological innovation." Said President Luca di Montezemolo. " We have also taken important strategic decisions relating to Brand which will make an ever increasing contribution to the success of the company. A great source of satisfaction to us all is that we have been named the world's Most Powerful Brand once again: confirmation we have succeeded in enhancing the value of this incredible brand." Today, 100 per cent of the cars are personalised, with the Tailor Made programme gaining in strength. The Classic Department is constantly increasing its activity and profitability.

The strategy regarding deliveries to the dealership network announced in the course of the year involved a planned overall reduction in volumes, but paying attention to those markets experiencing very strong demand to avoid excessively long waiting lists. One example of this is the USA where there were a record 2,035 deliveries, an increase of 9 per cent on the previous year. The UK market grew slightly and, with 677 homologated cars delivered to the network set a new record and became Europe's leading market, overtaking Germany, where deliveries stood at 652, a drop of around 100 over the previous year. Staying in Europe, sales in Italy were down once again, confirming the trend over recent years. Italy has become a marginal market for the luxury car sector: with 205 orders it now represents less than 3 per cent of Ferrari's global sales. In Greater China (People's Republic of China, Hong Kong and Taiwan) sales to end clients were good, standing at 700, allowing it to retain its position as the second largest market worldwide. Deliveries to the dealership network were down by around a quarter.

However, this was a by-product not of the market situation but Ferrari's decision to contain stock numbers. The positive trend continues in the Middle East and Africa with an increase of 8 per cent bringing to 599 the number of homologated cars delivered to the network. In the Far East, Japan performed exceptionally well once again in 2013, ending the year on 380 cars, a leap of over 20 per cent. Brand-related businesses (Retail, Licensing and E-commerce) also yielded very good results and from this year onwards will be managed by a separate company, 100 per cent owned by Ferrari and based in Maranello. Overall, operating margin in that area was up by 3.6 per cent to 54 million euro. Direct retail activities grew by 19.3 per cent on a like-for-like basis, and by 30 per cent as a result of new openings. Part of this good performance, of course, was because of the new in-store décor concept, which will be extended to upcoming projects, and to the launch of new categories of merchandise. Licensing maintains its positive impetus too, thanks to new licencing deals and the brilliant performance of our main and strategic partners, such as Puma, Hublot, Movado and Microsoft. With regard to e-commerce, growth targets set were met, recording revenues in excess of 8.4 million euros in 2013. Ferrari also enjoys an excellent online and social network presence. The official Ferrari website attracted over 40 million visitors while the brand is one of the leading lights of the global social media scene with 12.5 million fans on Facebook, up 25 per cent from 2012. On the Formula 1 sponsorship front, Ferrari signed two major deals, one with leading logistics expert, UPS and the second with eyewear company Oakley.

Aside from its logo appearing on the Scuderia drivers' helmets, the latter will also develop a new range of eyewear. Several sponsorship contracts were renewed in 2013, most specifically with Weichai Power, which is part of the Weichai Group, one of China's leading industrial corporations. In the meantime, leading London-based brand valuation experts, Brand Finance, have named Ferrari the world's Most Powerful Brand for the second consecutive year, awarding it an AAA+ rating that puts it ahead of highlyrespected and established multinational consumer companies. The brand rating not only takes into account financial metrics, such as average revenue per customer and investment, but also a complex array of other parameters, including brand affection and loyalty, client management and human resources. Lastly, it also gives us great pleasure to announce that today, on the anniversary of the birth of Enzo Ferrari, the company embraces a new challenge by taking over the management of the Museo Casa Natale Enzo Ferrari in Modena. Located in the heart of the city, the museum will complement the activities of the Ferrari Museum in Maranello which attracted a record 320,000 visitors in 2013, making it one of Italy's most popular museums.