Ferrari has announced that revenue is up 12% for the first three months of the year despite delivering 6% last cars than the first quarter of 2013. Company revenue hit $850 million with delivery of 1,699 models globally, 100 cars less than last year. Net profits soared to $75 million, a 5% increase over 2013.
Part of this success can be contributed to an ongoing strategy by Ferrari to produce fewer vehicles than demand requires. This technique was put in place to increase the value of both modern and vintage Ferraris. For the first quarter of 2014, Ferrari has reduced the number of units sent to Europe, Maranello’s second largest market. Another factor that has increased profits was the elimination of the entry level California.
Japan received twice as many cars in the first quarter 2014 with 128 units being delivered, 57 more than last year. Orders for mainland China, Hong Kong and Taiwan have grown 42% since January. The United States saw delivery of 494 models, an 8% increase.
It’s not every day that you get to witness a Ferrari 599 GTB attempting to drift around a collection of luxury vehicles that includes a blue Rolls-Royce Ghost, no less than two Ferrari 458 Italias, the new Corvette Stingray and several Ferrari Californias.
That is just the case for these to aspiring stunters who put their amateur talents on display at what appears to be the roof of a parking garage in the United Arab Emirates. The two were thoughtful enough to rig the 599 GTB with cameras that give us views from all angles inside and outside the car.
There is no doubt that the LaFerrari is a game changer for the future of Ferrari supercars. There have been suggestions in the past by Ferrari president, Luca di Montezemolo that the hybrid technology used in the LaFerrari could make its way into the next-generation of Ferraris. This would be in direct response to increasingly demanding emissions requirements. A series of design patent images recently revealed show that Ferrari is developing a new model, which may be a front-engine turbocharged hybrid that could possibly replace the Ferrari California.
Pictures circulating online after patents were submitted, reveal a vehicle that takes most of its cues from current Ferrari’s, including the front and rear styling of the FF. The lights shown in this illustration are consistent with the lights currently used on the Ferrari 458, F12 Berlinetta and FF. The lower valance displayed in these diagrams appears to be a hybrid between what is found on the Ferrari FF and the F12 Berlinetta. Even with the illustration appearing to show a fixed-roof coupe, there are prominent cut lines in the roof that strongly suggest that a production version could include a removable roof panel or a folding metal hard top, similar to what is currently used on the Ferrari California.
The current Ferrari California is a rear-drive vehicle powered by a naturally aspirated V8 engine that produces 483 horsepower and 375lb-ft of torque capable of doing 0-60 in less than 4 seconds. A slightly disguised Ferrari California was seen testing with what was rumored to be a twin-turbocharged 3.8 liter V8 that is currently found in the Maserati Quattroporte and delivers 523 horsepower and 523lb-ft of torque. These sightings and the release of patent images strongly suggest that we may see a replacement vehicle for the Ferrari California by 2017.
Toronto lawyer Howard Levitt found himself in a precarious situation last July while trying to get to the airport during a rain storm. Sitting behind the wheel of his 2010 Ferrari California valued at $200,000, Levitt noticed that the tunnel he was passing through was beginning to fill with water. Determined to make his court appearance the next day, Howard decided to abandon his Ferrari in the tunnel and take a cab to the airport, according to the National Post.