Dow Jones reports that Fiat Chairman Luca Cordero di Montezemolo said Tuesday that Ferrari SpA is aiming for a “very, very important” net profit figure for the full year.
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Ferrari, which is 56% owned by Fiat, will set a record by selling more than 5,000 vehicles in 2005, Montezemolo said at IAA, the international auto show taking place in Frankfurt.
Strong demand in North America, growth in Asia and new revenue from merchandising are helping Ferrari boost its economic performance, he said.
Ferrari sold Maserati, its unprofitable junior brand, to Fiat earlier this year in a move destined to boost Ferrari’s profit margins, the report added.
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