Ferrari is one of a select few brands in this world that had adopted a strategy to reduce sales in order to preserve exclusivity and at the same time, increase profits. The plan worked out and now, Ferrari is awarding its employees for…working on fewer cars in 2013 with a record bonus of €4,096 (about US$5,651), €96 more than what it gave last year.
“The production bonus is in recognition of the excellent financial results achieved last year, not least of which were record profits, in addition to other parameters, such as levels of quality,” said Ferrari in a statement.
The annual bonus is the result of a deal signed with the workers unions in 2012.
Despite the fact that Ferrari’s worldwide sales fell by 5.4 percent to 6,922 cars in 2013, or just under the 7,000 unit-threshold set to maintain the firm’s exclusive character, revenues rose to €2.3 billion (+ 5%), trading profit increased to €363.5 million (+ 8.3%) and net profits hit €246 million (+5.4%).
By John Halas
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