This may come as a surprise, but Ferrari is apparently mortal. Although it has denied being affected by the global economic crisis, the Italian supercar maker has announced plans to lay off up to 10 percent of its workforce this week. This comes on the heels of announcing in November that sales had dropped from around 600 units per month to a miniscule 92 sales worldwide. As many as 300 workers could be idled after negotiations with Italy's trade unions. So much for thinking it might be recession-proof. For now the Maranello company has announced an unprecedented 20-day holiday shutdown this year to ward off huge stockpiles of parts and inventory. Even with the new California launching and the recently announced Scuderia Spider 16M on the way, and despite a two-year waiting list for its product globally, distributors around the world are apparently sitting on too much inventory. Sales of the V12 models have reportedly stalled and F430 sales have slowed to a trickle since the California was announced.
We now seriously doubt the company will be able to reach its goal of 10,000 sales by 2010, which Ferrari chairman Luca di Montezemolo had been promising as recently as the Paris Motor Show back in October. For its part, Ferrari is saying that this is traditionally a slow time of year, that F430 sales were naturally affected by the announcement of the 16M and California, and that the extended holiday break has more to do with the calendar than the economy. We simply like the thought that this might one day mean lower prices for Enzo's finest.
We knew the auto industry was in bad shape and it didn't take long to extend its poisoned-tipped tentacles into the world's automotive juggernaut. In August came news that the Japanese automaker had cut its sales forecast for 2008 from 10.4 million vehicles to 9.7 million. A Japanese newspaper, though, says it expects Toyota to only sell 8.3 million for the year. If true, it would be the company's first year over year sales decline in a decade. The Nikkei Daily (subscription required) doesn't back up its prediction with any sources, but we'll know how close to the truth they get come in January when Toyota announces official sales numbers.
