Ferrari And Maserati Announce Change To Their Existing UK Import And Distribution Business

From 1 October 2004 these activities, which are currently managed by Maranello Concessionaires Ltd, a subsidiary of Inchcape plc, will be transferred to Ferrari Maserati UK Ltd, a Ferrari Maserati Group company.

This change is in line with the Ferrari Maserati Group’s strategy of managing its key markets directly and follows recent changes made to its Western European operations. Combined with its already well established North American, German and Swiss subsidiaries, this latest development places the Ferrari Maserati Group in direct charge of its distribution business in major markets.

As part of the continuing partnership with the Ferrari Maserati Group, Inchcape plc will continue to manage the spare parts, including classic parts, business until 30 September 2005 and, importantly, will continue to retail Ferrari and Maserati cars through Maranello Sales Ltd.

In November 2003 Maranello Sales Ltd increased its retail footprint with the Ferrari Maserati Group to three showrooms, which together account for c. 35.0% of the total UK sales for these brands. In addition to its flagship site, Tower Garage, in Surrey, Maranello Sales Ltd now also has dealerships in Sevenoaks and St. Albans.

Robert Hazelwood, Managing Director of Maranello Concessionaires Ltd said:

"We look forward to further development and progress in our retail business with these prestigious brands."

Jean Todt, Managing Director of Ferrari SpA commented:

"Ferrari and the UK are bound by the passion of our clients for the Prancing Horse and the world of sports cars, and by directly managing Ferrari and Maserati in the UK, we are able to build on the first-class customer support delivered by Maranello Concessionaires Ltd."

Martin Leach, Chief Executive of Maserati SpA commented:

"The UK market is a key part of the growth for Maserati worldwide. New Models such as the Quattroporte and our return to GT racing with the MC12 will raise further the profile of the Trident and power the development of the brand."

Published 4 September 2004 Melanie Carter

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