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Ferrari posts record profits on restricted volume

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.

Sebastian Vettel gets to work at Fiorano [w/videos]

He wore a BMW Sauber uniform for his grand prix debut, the colors of Scuderia Toro Rosso for his first win and the Red Bull Racing jumpsuit for his four consecutive world titles. But with the 2014 Formula One season now behind him, Sebastian Vettel is now officially a Ferrari man, and he donned scarlet for the first time this past weekend when he got down to work in Maranello. Aside from meeting with the company's new chairman Sergio Marchionne, the Scuderia's new principal Maurizio Arrivabene and a team of race engineers, Vettel took the F2012 – similar if not the very same one in which his predecessor Fernando Alonso won the Malaysian, European and German grands prix – out onto the company's private test track. He completed a solid 100 laps around Fiorano on Saturday and undertook long sessions driving the virtual F14 T on the sumulator. "It's been a fantastic day to come here," Vettel said of his first day with the team. "The possibility to drive the car and get to know the team was a unique experience.... I'm very much looking forward to the challenge that we took on for the next years." Scope out the photos of Vettel in red in the gallery above and the footage from his first session at Fiorano and first visit to Maranello in the videos below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Sebastian gets down to business in Fiorano Maranello, 2 December – Last Saturday, Sebastian Vettel did his first laps as a Scuderia Ferrari driver, at the wheel of an F2012, at the Fiorano track. The German did around a hundred laps and it wasn't just a case of getting to know the team, the track and the car's systems: after a few cautious runs, he began to push and enjoy himself, even though the damp track meant conditions were tricky with less than optimal grip. In this video, you can see some spectacular highlights from Sebastian's run, from which it's clear that he is a determined character who really can't wait to get down to work alongside Kimi and the team to get the Scuderia back to the top again. ### Vettel: "A special feeling" Maranello, 1 December – This was the first weekend as a Scuderia Ferrari driver for Sebastian Vettel, who has been at Maranello from Saturday until today and has begun his work ahead of the new season.

Haas pens partnership with Ferrari

Gene Haas is undertaking quite the initiative by starting his own Formula One team instead of simply buying an existing one. And he's making it even harder on himself by laudably insisting on quartering the operation at his home base in North Carolina. But to get onto the grid by 2016, he's going to need some help.
Fortunately that appears to be just what he's getting thanks to a new partnership with no less accomplished an outfit than Ferrari - which, despite not having won a championship since 2008, remains far and away the most successful team in the history of grand prix racing, with sixteen constructors' championships, fifteen drivers' titles and 221 grand prix victories to its name.
Haas Automation, the CNC machine manufacturer over which Gene Haas presides and which funds his various racing activities, has just signed a sponsorship deal with Scuderia Ferrari that has already seen the Haas logo appear on the F14 T that Fernando Alonso and Kimi Raikkonen drove in the British Grand Prix this past weekend. More than a sponsor, Haas Automation has become an official supplier to the Maranello squad, but is expected to lead to even closer cooperation that will help get the American F1 team up and running in time for the 2016 world championship.