MARCH 5, 2006
Privateer F1 team builds 5409 cars
Ferrari SpA has revealed its financial figures for 2005 which prove conclusively that it is an automobile manufacturer and not a small private racing team. The company said that it sold 5409 cars in 2005 (up 8.7% from the previous year) and had a turnover of $1.5bn. It made a pre-tax profit of $189m. The most interesting thing was the reduction in the company's R&D budget which dropped from $313m in 2004 to $263m in 2005. The F1 budget is separate from this. The company said that the profits would have been stronger if the dollar had not been as weak against the Euro.
The company continues to expand its branding exercises with new stores opening in Las Vegas, Shanghai, Hangzhou and Milan. The company says that merchandise now represents "a significant source of income" for the company.
It seems incidentally that Ferrari has now agreed to a testing limitation of 36 days, bringing to an end the unbalanced arrangement last year.
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