News Summary: Ferrari to sell fewer cars

Ferrari chairman: supercar maker will limit sales below 7000 in 2013 to boost exclusivity

Associated Press

FEWER FERRARIS: Ferrari says it will limit sales of its high-performance street cars this year to below 7,000 to protect the brand's exclusivity.

THE NUMBERS: Chairman Luca Montezemolo says that means sales will decline overall by "more than 1 or 2 percent" from last year's sales of 7,318 cars. Sales in the first four months have risen 4 percent over last year.

PEDESTRIAN?: Montezemolo told reporters that "the exclusivity of Ferrari is fundamental for the value of our products. We made the decision to make fewer cars because otherwise we risk injecting too many cars on the market."

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