ˆ Ferrari to close, restructure entire European dealer network

tags : emea , ferrari , ferrari africa , ferrari dealer , ferrari dealership , ferrari europe , ferrari middle east , ferrariafrica , ferraridealer , ferraridealership , ferrarieurope , ferrarimiddleeast

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Ferrari has announced that it is canceling its contracts with every single one of its European dealers. The move is part of a restructuring plan for the company's European, Middle Eastern and African operations, justified by compliance with new European Union regulations and the streamlining of communication between the Maranello and the dealerships.The cancellation of the contracts will take effect June 30, 2010, by which time many dealers expect to have theirs renewed. However, somewhere between a third and a half of the outlets may be closed for good before then. Sources suggest that once re-launched, the network will have been restructured into A- and B-class dealerships, but what those classifications mean exactly remains to be seen.

posted : 8/30/2008 @4:53:32 PM

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