Fiat SpA does not have plans to list Ferrari, Ferrari’s chief executive said.
Fiat, which is looking to increase its stake in Chrysler, said previously it was considering an initial public offering of Ferrari as a strategic option.
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“The CEO of Fiat group was saying he has no real plans to list Ferrari,” Amedeo Felisa, in Shanghai celebrating the 999th Ferrari owner in China, told Reuters.
Ferrari said recently it sold about 300 cars in China in 2010, a 50% increase over 2009.
Felisa said he aims to boost China sales, hoping to groom it into Ferrari’s second-largest market after the United States.
“The idea is that in two or three years maximum to reach 600 cars,” Felisa told a news conference. Ferrari currently sells around 1,200 cars in the United States annually.
Felisa also said Ferrari will keep up its 2010 growth pace in 2011.
“If you look at 2010 numbers, it was more or less 100 cars more than 2009. I think we will be able to continue in that way, with that level,” he said.
Felisa said China differs from other markets because Ferrari owners are younger with an average age under 30.
