Few automotive brands are as synonymous with chic and speed as Ferrari. Ferrari North America is Ferrari's exclusive business arm for vehicle imports, marketing, sales, and dealerships crossing North, Central, and South America. Its exotic models, as expensive as they are fast, include the F430 Berlinetta, F430 Spider convertible, 599 GTB Fiorano, 430 Scuderia, and the 612 Scaglietti. Although coupe-size in operations compared with corporate goliaths like GM and Ford, Ferrari North America is on a roll. Even in the face of an economic slow down, demand exceeds supply. It continues to build fewer cars than ordered, yet add new dealerships, notably in Florida, its third largest market.
Ferrari North America is single-minded about the "four P's" of marketing its prancing brand in the Americas. Product: Called automotive-art, the company is passionate about delivering on its lineup's racing performance and design. Counterfeits are prosecuted. Ferrari also offers customers and collectors factory-run restoration and certification services. A Ferrari model's history and replacement parts can be verified, avoiding knock-off purchases. Price: Products are priced for an enthusiasts-only (with deep pockets) club. New models start at close to $200,000, and pre-owned actually appreciate in value. Moreover, consumers ready to purchase typically have to wait; production volumes are deliberately kept low. This being so, to ensure a profit for Ferrari North America, its parent typically allots at least 30% of its annual production to North America. Promotion: The company's participation in motorsports, such as the American Le Mans and Ferrari Challenge series, has been key to building the Ferrari image of power, style, and exclusive ownership. Ferrari North America provides a driving school for its owners, too, at the Circuit Mont-Tremblant racetrack, Quebec. Place: Dealerships undergo near-constant renovation. Between 2007 and 2008, Ferrari North America's dealer network spent over $70 million to remake their facilities into the image of its parent's factory in Maranello, Italy (reportedly ever under-renovation, too).
Ferrari and Ferrari North America are subsidiaries of Fiat. Ferrari North America accounts for about 30% of Ferrari's global car sales.
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