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| Ferrari and Maserati sales decline in Italy | Ferrari and Maserati sales decline in Italy |
| (35 minutes later) | |
| Sales of luxury Ferrari and Maserati cars have slumped in the land of their birth as Italy's financial and economic woes bite even the richest Italians, industry figures have revealed. | Sales of luxury Ferrari and Maserati cars have slumped in the land of their birth as Italy's financial and economic woes bite even the richest Italians, industry figures have revealed. |
| Last year, Ferrari saw sales in its home market fall by more than 56%, while those at Maserati slumped 72%. | Last year, Ferrari saw sales in its home market fall by more than 56%, while those at Maserati slumped 72%. |
| Just 248 Italians bought a Ferrari last year. | Just 248 Italians bought a Ferrari last year. |
| Italy is in recession, and the government is continuing with austerity measures to trim its deficit. | Italy is in recession, and the government is continuing with austerity measures to trim its deficit. |
| The head of the Italian motor traders' federation Federauto, Filippo Pavan Bernacchi, blamed "an overdose of taxes aimed at hitting, if not criminalising, the acquisition, ownership and use of cars". | |
| In addition to taxing motoring directly, Italian authorities have also been specifically targeting the owners of Ferraris and other supercars to check that they are paying enough tax. | In addition to taxing motoring directly, Italian authorities have also been specifically targeting the owners of Ferraris and other supercars to check that they are paying enough tax. |
| There have been numerous reports of police officers stopping such cars, and demanding that the driver produces his or her tax registration ID. | |
| Both Ferrari and Maserati are owned by Fiat. | Both Ferrari and Maserati are owned by Fiat. |
| Ferraris have become red flags for Italy's tax authorities, who have started stopping them in the street, then ordering tax audits of their owners. | |
| In response, Italy's wealthy have virtually stopped buying the cars and started shipping the ones they already own out of the country at a rate of knots. | |
| Hence, at a time when Ferraris are becoming ever more commonplace around the world, in their homeland they are set to become increasingly rare. | |
| Only 115 Maseratis were sold in Italy last year. | Only 115 Maseratis were sold in Italy last year. |
| Global growth | |
| Around the world Ferrari is much more successful, however. | |
| During the past decade, annual sales have climbed from about 4,000 to 7,200 in 2011. The 2012 figures have not yet been released. | |
| In September, the carmaker reported record net profits of 100m euros ($128m; £80m) for the first half of the year. | |
| Ferrari delivered 3,664 cars to dealers during the period, with revenues rising 11.9% to 1.2bn euros. | |
| At the time, chief executive Amedeo Felisa predicted that 2012 could be another record year for Ferrari. |