Ferrari announces highest ever production bonus for its employees

Monday 14 April 2014, 15:36 PM by

Italian brand Ferrari has not just been a charmer on the tarmac, but also has been a beloved brand amongst its employee lot. In lieu on excellent sales result of the financial year 2013, Ferrari has announced an astonishing 4,096 Euro (Rs 3.39 lakh) as an incentive for its employees. Luca di Montezemolo, Chaiman for Ferrari had announced the bonus amount which is said to be roughly about three months of salary earned as a part of three-year bonus plan.

Ferrari announces highest ever production bonus for its employees | CarTrade.com
Ferrari announces highest ever production bonus for its employees

It is interesting to see that Ferrari has managed to rake up good sales even after reducing its production to about 7,000 cars a year to maintain exclusivity and value over a time period. Despite cut in production numbers, the Italian car-maker has reported a 12% rise in sales at 4 billion USD ( Rs. 24,108 crore). Trading profits have moved up by 8.3% , whereas revenues moved up 5%. Sales charts for Ferrari was set on fire by the North American audience who accounted for about 30% of global sales, whereas China ranked the second best with about 10% of global sales. Moreover, as per sources, Italian car-maker Ferrari earned about 4% extra at 54 million Euros due to licensing agreements between gaming companies Codemasters and Electronic Arts.

The AAA+ rating achieved by the Italian car-maker is stated to be based on factors like consumer loyalty, brand desirability, and employee satisfaction. In next five years, Ferrari has stated its plans to spend about 1.23 billion pounds (Rs 12,312 crore) for research and development. About 70% of the total funds may be spent to derive superior efficiency gains, this means that further innovations and developments shall give birth to downsized turbocharged engines and lightweight structured cars.

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