Marchioness Letter to Ferrari Dealers about Spin-off - Ferrari Life
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post #1 of 21 Old 10-31-2014, 08:19 AM Thread Starter
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Marchioness Letter to Ferrari Dealers about Spin-off

Here is the official letter from Sergio Marchionne that was sent to Ferrari Dealers upon the announcement the other day that Ferrari would be spun-off as a separate listing from FIAT/CHRYSLER. This can only be good news for Ferrari fans.
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post #2 of 21 Old 11-20-2014, 09:19 AM
 
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Not so sure. Luca Cordero di Montezemolo was forced out by Sergio. Luca was hand picked by Enzo and believed in Ferrari being an exclusive brand. Sergio wants to turn Ferrari into a BMW / Porche.
Sergio Marchionne is more interested in making money then protecting the Ferrari brand. Sad, sad...
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post #3 of 21 Old 11-20-2014, 11:30 AM
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Not so sure. Luca Cordero di Montezemolo was forced out by Sergio. Luca was hand picked by Enzo and believed in Ferrari being an exclusive brand. Sergio wants to turn Ferrari into a BMW / Porche.
Sergio Marchionne is more interested in making money then protecting the Ferrari brand. Sad, sad...

Worse, I have come to believe that the sole reason for the spin-off was to fund substantial new debt for FiatChrysler; it was the only way to make it palatable to the financial markets.

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post #4 of 21 Old 11-21-2014, 08:47 AM
 
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Seth,
Yes that was the other reason that was being discussed in an article. It is idiotic. If demand is stronger than usual raise the prices not compromise on quality and the foundation on which Ferrari is built.

What I will predict is that in the future even the cars we own post hand-built will rise in value as the coming cars will be numerous and using parts from fiat and Geeley(Chinese car company), anyway that is my fear.
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post #5 of 21 Old 11-21-2014, 09:26 AM
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Last week my dentist asked if the new $30,000 Ferrari had shipped yet. Seriously.

This pained me more than my biannual checkup and cleaning.
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post #6 of 21 Old 11-21-2014, 12:55 PM
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Seth,
Yes that was the other reason that was being discussed in an article. It is idiotic. If demand is stronger than usual raise the prices not compromise on quality and the foundation on which Ferrari is built.

What I will predict is that in the future even the cars we own post hand-built will rise in value as the coming cars will be numerous and using parts from fiat and Geeley(Chinese car company), anyway that is my fear.




I share your apprehension, and I believe that many if not most cars from what we may call the Luca era will retain or appreciate in value. A while ago I had offered for sale my 412GT 5-speed manual, a very rare car, 576 total production, only 20-25% are 5-speeds and never having been homologated for the States, not more than a relative handful here. Changed my mind since I believe that the whole line, 365GT4 2+2, 400, 400i and 412 of 5-speeds, are going to join the 1960s-70s cars in an upward move in desirability.

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post #7 of 21 Old 11-22-2014, 02:27 PM
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Oh yeah, public companies have so much flexibility and freedom. Goodbye ferrari, it was good to know ya.



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post #8 of 21 Old 11-24-2014, 03:30 AM Thread Starter
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The only sign of hope now is FCA's plan to spin off Ferrari into a separate entity, with a separate stock listing (even though FCA would still have majority ownership), which would mean it may be run as a separate organization without Marchionne sticking his nose in it.
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post #9 of 21 Old 11-24-2014, 05:54 AM
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The only sign of hope now is FCA's plan to spin off Ferrari into a separate entity, with a separate stock listing (even though FCA would still have majority ownership), which would mean it may be run as a separate organization without Marchionne sticking his nose in it.
Clyde, I fear you haven't been following closely enough; I believe I've read that Marchione has made himself Chairman of Ferrari S.p.A. Everything that's been happening in Maranello must have had his approval. That appears also to go for the future.

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post #10 of 21 Old 11-24-2014, 09:58 AM
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Ferrari is a brand - it's not superior than any other car factory other than they can charge more for their product - Ford proved that with the GT.

No one knows if someone is wearing a 200.00 suit or 2000.00 but you place a recognized Brand name on it and it's magically perceived as panache. Same goes for 99.9% of watches sunglasses etc.

They all have an engine brakes and wheels - Ferrari simply charges a lot more because their customers will pay for it and adds some sexy modifications.

Short of the story - most people outside this forum see Ferrari as a rich mans toy and Ferrari's piggy bank is being broken into by Fiat - it's business as usual but for the board room doors are opened.

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post #11 of 21 Old 11-25-2014, 05:44 PM
 
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Disagree with comparing Ferraris with any car. Yes they all have engines and brakes even if they are made in China. It is also the quality of the work, the precision the racing history. Fiat may make money in the short term with a $30,000 Ferrari,long term they will be killing a brand which is bad business.
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post #12 of 21 Old 11-25-2014, 06:10 PM
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post #13 of 21 Old 11-26-2014, 12:02 AM
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Quote:
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No one knows if someone is wearing a 200.00 suit or 2000.00 but you place a recognized Brand name on it and it's magically perceived as panache.
If it is worth 2,000, then it should be immediately apparent without a label. If it isn't, then you are going to the wrong tailor.

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post #14 of 21 Old 11-26-2014, 12:04 AM
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Originally Posted by efg2014 View Post
Disagree with comparing Ferraris with any car. Yes they all have engines and brakes even if they are made in China. It is also the quality of the work, the precision the racing history. Fiat may make money in the short term with a $30,000 Ferrari,long term they will be killing a brand which is bad business.
Agreed. So it is a good thing that they are selling it before they can ruin it.

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post #15 of 21 Old 11-26-2014, 03:14 AM
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Marchioness Letter to Ferrari Dealers about Spin-off

I agree, dumbing down Ferrari with a $30,000 model can't be good for the brand.
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post #16 of 21 Old 11-26-2014, 06:12 AM
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Originally Posted by champagne612 View Post
Ferrari is a brand - it's not superior than any other car factory other than they can charge more for their product - Ford proved that with the GT.

No one knows if someone is wearing a 200.00 suit or 2000.00 but you place a recognized Brand name on it and it's magically perceived as panache. Same goes for 99.9% of watches sunglasses etc.

They all have an engine brakes and wheels - Ferrari simply charges a lot more because their customers will pay for it and adds some sexy modifications.

Short of the story - most people outside this forum see Ferrari as a rich mans toy and Ferrari's piggy bank is being broken into by Fiat - it's business as usual but for the board room doors are opened.

Rubbish! I can tell a custom, hand-tailored suit (you'll very likely pay a good deal more than $2,000.) from an off-the-rack $200. or $300. or $400. suit at 100 paces - without my spectacles! I can also tell a Ferrari - any Ferrari - from any other car in any price range whatever. Ditto an A. Lange & Sohne or Patek from any mass market wrist watch.


Ferrari charges a lot more because their huge R&D expense is spread over an exceedingly small production compared with mass-market mfrers.


Thoughtless, foolish comment

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post #17 of 21 Old 11-26-2014, 12:08 PM
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The funny thing. Seth, is that Doug probably doesn't have to wear a suit. I know I don't have to, thank goodness.

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post #18 of 21 Old 11-26-2014, 02:29 PM
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Hmm Su Misura? Bespoke? Tailor Made

Funny thing about the suit- its the fit more important than the suit. I seriously doubt you can tell the difference on any suit at distance more than 5-10 feet if that. Most machine made suits today copy the stitching lining etc. Brands like Canali, Isaia, Ermenegildo Zegna and many others make OTR suits fully canvassed, well made, just not made for the individual person. Can you tell the difference? Funny my tailor always said, bad fitting suits- you notice the clothes, good fitting suit and you notice the man.

Ferraris are similar- some have bespoke Ferraris ( coincidence they named it tailor made? They could have said su misura), some order new fully spec'd exactly to their desire and then there are guys like me- waiting for depreciation and the one that ticks our boxes fail into our budget.

Doug is right- the business side of Ferrari will change, just like it changed from a Visionary's reality to a modern manufacturer under LDM and now a publicly held company to raise capital for FCA with different responsibility and constraints. It is sad but change was inevitable.

I seriously doubt that Ferrari's cost absis is their massive R & D spread over the production run- nice idea but not even close.

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post #19 of 21 Old 11-27-2014, 06:13 AM
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Originally Posted by 360 Modena View Post
The funny thing. Seth, is that Doug probably doesn't have to wear a suit. I know I don't have to, thank goodness. Smiles


Truth is I've never owned a bespoke suit; have a few excellent hand-tailored Paul Stuart suits I wore when I was still practicing law in New York; but since moving to Saratoga Springs haven't worn one except on holidays. When I wear a tie it's almost always with a sports jacket or a navy blazer.

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post #20 of 21 Old 11-27-2014, 06:19 AM
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Funny thing about the suit- its the fit more important than the suit. I seriously doubt you can tell the difference on any suit at distance more than 5-10 feet if that............. ScottS


Scott, I promise you, you'll see them difference between a Savile Row suit and a buy-one-get-one-free from Jos. A. Banks

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