Tokushima Worldwide are understood to have revealed to investors in a recent meeting that sales of luxury cars, such as Ferrari and Maserati have more than halved in their home market of Italy. According to data believed to have been reviewed by Tokushima Worldwide, Ferrari sold only 248 cars last year, a slump of 56%. Maserati, another Italian luxury sports car manufacturer, saw their domestic sales collapse by 72%, with only 115 cars sold last year.
The European economic crisis is not just affecting car sales in Italy though, with Spain’s auto sales at their lowest since 1989, falling 23% from 2011, down to just under 700,000 cars sold. France also saw a sales drop of 14% for the year, down to 1.9 million cars, their lowest sales level for 15 years. Germany witnessed a more modest fall in auto sales, down just 2% to 3.1 million units. The Italian luxury car sector is not alone in seeing its sales collapse, the overall Italian car sales figure for 2012 fell by almost 20%, making it the worst year since 1979.
Tokushima Worldwide allegedly noted that The President of Federauto, the Italian auto dealers trade organization, Filippo Pavan Bernacchi said that the Italian car market is suffering from an overdose of taxes aimed at hitting, if not criminalizing, the acquisition, ownership and use of autos.
Conversely, while the European auto industry is dealing with record sales slumps, the U.S. is experiencing its strongest sales growth for 45 years, with its third straight year of greater than 10% sales growth.
At the center of Italy’s problems may be the larger economic conditions – the standard of living has been falling, the economy has seen five consecutive months of contraction and the unemployment rate for young people is hovering around the 35% mark, according to data reportedly assessed by Tokushima Worldwide.
Tokushima Worldwide – Sales of luxury cars, such as Ferrari and Maserati have more than halved in their home market of Italy.