OCTOBER 14, 2008
Trouble for Ferrari too?
The turbulent financial markets are causing problems for the supercar companies such as Ferrari. According to reports in Australia, dealers are finding an increasing number of young executives trying to sell their cars as they have less ready cash than previously to make the necessary payments. The car companies say that they do not expect the number of buyers to reduce but there is no doubt that there are a great deal more secondhand Ferraris on the market than there were six months ago and this may have a dramatic effect on the earnings of the parent company as buyers can get almost new cars for a knockdown price.
Australian dealer Normal Elkordi told the Sydney Morning Herald that "I have never seen it like this before."