Ferrari looks peerless for sand
Italian luxury carmaker Ferrari sold 264 units in the Middle East in the first six months of the year, resulting in a 39 percent year-on-year surge in sales across the region.The Maranello-based manufacturer also sold 3,767 globally in the same period reported revenues of €1.17bn ($1.55bn), a rise of 7.1 percent. Ferrari’s board also met under the chairmanship of Luca di Montezemolo on August 4 where they examined the financial results for the first six months of 2013 and highlighted Ferrari’s strategic decision to reduce volume output.
“Once again in the first six months of 2013, Ferrari has recorded excellent results. Two months ago, we took a strategic decision the effects of which will be felt more clearly over the next six months. However, that move is already beginning to make its mark,” said Luca di Montezemolo. An increase of just over two percent in volumes has been matched by 20 percent growth in EBIT [Earnings before interest and taxes] which is and will remain our primary objective along with maintaining the exclusivity and value of our cars over time.
Jaguars move flat out through the desert
Luxury car manufacturer Jaguar Land Rover has posted a 40 percent rise in sales growth across the Middle East and North Africa (MENA) during the second quarter of 2013.The company said the figures for April to June represented a strong start to its fiscal year and included a record breaking month for sales in May.
Sales of Land Rover vehicles increased by 43 percent in the region, due mainly to the success of the All-New Range Rover. Other key sales performers were the Range Rover Evoque and the Land Rover LR4, which went up by 28 percent and 17 percent respectively. Jaguar posted a 26 percent sales increase over the same period last year, with the MENA region its fifth largest market for the brand globally. Sales of the Jaguar XF increased by 45 percent, along with the Jaguar F-TYPE, with both showing significant growth in the UAE, Qatar and Saudi Arabia, the company said in a statement.
Robin Colgan, managing director for Jaguar Land Rover MENA said: “Our strong sales performance over the last quarter is a reflection of how significant this region is to the Jaguar Land Rover brand globally.
