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Official: Ferrari posts record profits on restricted volume

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Ferrari 458 Speciale

Most automakers are after one thing and one thing only: selling more cars. Because, after all, selling more cars means making more money. Right? Well that’s usually the case, but Ferrari has taken a different approach. Rather than try and sell more cars, Ferrari intentionally sold fewer models in 2013, yet it made more money.

The move was implemented after 2012 emerged as the strongest year in the company’s history. Instead of pushing to sell even more cars, it opted to maintain a level of exclusivity by selling fewer – 5.4 percent fewer than the year before, to be specific – thereby ensuring that those it did sell were worth more. As a result, in 2013, Ferrari logged record turnover, profits and finances: on 2.3-billion euros of revenue (up 5 percent from the previous year), Ferrari recorded 363.5 million euros in profit last year – that’s roughly $500M USD.

Before you go jumping to conclusions, though, bear a few factors in mind. For one, Ferrari’s stakeholders aren’t pocketing all that cash – they’re reinvesting it into the company: over the course of the same year, Ferrari invested some 337 million euros – 464 million dollars – in research and development. And while the company’s extensive merchandizing efforts continue to bring in more cash, at 54 million euros ($74M) raised last year, the branding operation still doesn’t account for a sixth of overall revenues. Still, it’s little wonder that the experts at Brand Finance have named Ferrari the world’s most powerful brand for the second year running.

Don’t worry about the shortage in supply affecting availability of Prancing Horses in America, either: the United States remains Ferrari’s largest market by far, with 2,035 vehicles delivered last year – a 9-percent increase over the previous year. China remains the company’s second-largest market with 700 deliveries, while Italy has, in the company’s own words, “become a marginal market for the luxury car sector”: last year, Ferrari sold just 205 cars in its home market, or barely more than a tenth of what it moves on our shores.

Continue reading Ferrari posts record profits on restricted volume

Ferrari posts record profits on restricted volume originally appeared on Autoblog on Wed, 19 Feb 2014 14:31:00 EST. Please see our terms for use of feeds.

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February 19th, 2014

Official: Cadillac partners with Saks Fifth Avenue for limited-edition ELR

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2014 Cadillac ELR Saks Fifth Avenue Edition

There’s no softening the blow with this one – this is the limited edition 2014 Cadillac ELR Saks Fifth Avenue Edition, and it costs $89,500, including $995 for destination. The special model, limited to just 100 units, is part of a holiday season collaboration between Cadillac and luxury retailer Saks Fifth Avenue. In addition to the ELR, there will also be a special “Frozen Escalade” window display at the Saks Fifth Avenue flagship store near Rockefeller Center in New York City, which will feature the 2015 Escalade with functioning LED running lamps that, as the automaker says, “appear embedded and breaking through a wall of ice.”

But back to that ELR. This Saks edition plug-in hybrid coupe commands a surcharge of $14,500 over the $75,000 base model that over 85-percent of Autoblog readers polled already feel is overpriced. For that extra coin, you get an ELR wearing exclusive (to this car) White Diamond paint matched with either a jet black or light cashmere interior. Buyers will also receive an upgraded 240-volt charging station complete with professional installation, and the cars come with Cadillac’s ELR Concierge service – representatives “trained in white-glove customer care” that serve as an additional point of contact beyond the dealership when it comes to topics like like battery care, charging, service scheduling and news updates.

Folks who order the Saks Fifth Avenue ELR are expected to receive their cars in March of next year. Price aside, we’re sure it’ll look great parked alongside the Neiman Marcus Aston Martin Vanquish Volante in owners’ garages. Scroll down for Cadillac’s official press blast.

Continue reading Cadillac partners with Saks Fifth Avenue for limited-edition ELR

Cadillac partners with Saks Fifth Avenue for limited-edition ELR originally appeared on Autoblog on Fri, 08 Nov 2013 13:28:00 EST. Please see our terms for use of feeds.

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November 8th, 2013

This Giant Submarine Destroying a City Street Is Actually an Ad

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This Giant Submarine Destroying a City Street Is Actually an Ad

Life is strange and unpredictable. Some things have to be seen to be believed, and even then it can be tough to trust your own peepers. Take Milan’s Piazza Mercanti, for instance. It recently became home to what appears to be a submarine bursting through the asphalt. Wait, what?

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October 2nd, 2013

This Giant Submarine Destroying a City Street Is Actually an Ad

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This Giant Submarine Destroying a City Street Is Actually an Ad

Life is strange and unpredictable. Some things have to be seen to be believed, and even then it can be tough to trust your own peepers. Take Milan’s Piazza Mercanti, for instance. It recently became home to what appears to be a submarine bursting through the asphalt. Wait, what?

Read more…


    

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October 2nd, 2013

Study: Toyota, Mercedes, BMW top automakers included in List of Best Global Brands

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Interbrand Top 100 brands for 2013

Interbrand, a consultancy firm, has published its 13th annual list of the best global brands. Besides seeing some shakeups at the top – Apple and Google unseated Coca-Cola (a company that has dominated the survey since its birth), the 100-item list features 14 automakers, most of which enjoyed double-digit gains in brand value.

Toyota managed to retain its spot as the study’s top automaker. It finished the survey in 10th position overall (the same as last year), despite a 17-percent improvement in its brand value, from $29.33 billion to $35.34 billion. Mercedes-Benz, BMW and Honda all made the top 20, at 11th, 12th and 20th place, respectively. Hopping a ways down the list, we come across Volkswagen in 34th place, up from 39th in last year’s study, with a brand value of $11.12 billion, a 20-percent improvement over 2012. Ford and Hyundai round out the automakers in the top 50, at 42 and 43.

Porsche made the largest year-over-year gain of any automaker, with its brand value increasing 26 percent to $6.47 billion. Chevrolet meanwhile, cracks the list for the very first time at 89th place. As Interbrand notes, Chevy’s inclusion is notable because of the sheer number of vehicles it moves for General Motors and its recent push in developing markets. The final interesting note on this survey is the position of an automaker that takes its name and logo more seriously than perhaps any other – Ferrari. The Italian exotic manufacturer finished 98th out of 100, with just $4.01 billion in brand value, a six-percent improvement over 2012.

Interbrand’s global brands report takes into account the financial performance of the products and services of each brand, as well as their influence over consumers. Finally, the firm looks at a brand’s ability to command a premium – an attribute that helped Apple wend its way to the top of the list. For more, check out Interbrand’s press release below.

Continue reading Toyota, Mercedes, BMW top automakers included in List of Best Global Brands

Toyota, Mercedes, BMW top automakers included in List of Best Global Brands originally appeared on Autoblog on Tue, 01 Oct 2013 16:30:00 EST. Please see our terms for use of feeds.

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October 1st, 2013

Official: Lexus to open stores with branded accessories [w/video]

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Lexus Intersect

Trying to build a boutique buying atmosphere with a large-volume premium brand isn’t easy, but Lexus is attempting to do just that by introducing its new Intersect By Lexus dealership experience. This aspect of Lexus retailing has nothing to do with cars and everything to do with luxury lifestyle accessories. Intersect By Lexus is effectively an all-in-one shopping destination for high-quality, hand-crafted designer products, many of them created specifically for the marque, right down to their “Crafted for Lexus” branding.

The first Intersect By Lexus store will open at the end of this month in Tokyo, with other stores planned for New York and Dubai. Going over the first store’s initial product list, it seems that each store will offer wares that reflect its location. Some of the products available at Intersect By Lexus Tokyo include a $400 minimalist LED desk light, hand-sewn $286 tablet cover and a $133 drip coffeemaker and cup set handmade from the ash of Japan’s Sakurajima volcano. Scroll down for a short video showing how some of these products were made.

Continue reading Lexus to open stores with branded accessories [w/video]

Lexus to open stores with branded accessories [w/video] originally appeared on Autoblog on Thu, 22 Aug 2013 16:20:00 EST. Please see our terms for use of feeds.

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August 22nd, 2013
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