Ferrari denies being victim to economic crisis but will cut 300 employees by Friday

Despite planning on cutting its workforce by 10 percent later this week, Ferrari is denying that it is a victim to the global economic crisis. The Italian automaker has seen sales fall from 600 units a month to just 92 units in November. It is now working with Italy’s trade unions to cut at least 300 employees involved in its road-car production. Also, in order to avoid stock pileups in dealerships, Ferrari will shut down its Maranello production plant for 20 days during Christmas.

So why is Ferrari still optimistic? Chairman Luca di Montezemolo is aiming at a sales target of 10,000 cars for 2010 and with the new Ferrari California already sold out until 2011, that seems pretty realistic. Montezemolo believes that with the financial crisis and a reduction in sales, Ferrari will have a chance to quickly respond to markets that have waited years for their models to be delivered.

Insiders told AutoCar that sales of the V12 Ferrari 612 Scaglietti and Ferrari 599 Fiorano have been very slow and that Ferrari has moved both models to special customization programs to mask the problem.

“Of course the economic problems are being considered,” he said. “It depends how long this crisis goes on, if this is close to the end or not. Because we will see a different world out the other side.”

Source: AutoCar