Ferrari riding high while others struggle

MARANELLO, Italy, Dec. 18 (UPI) -- Italian automaker Ferrari drove a different circuit in 2008 than other car companies, claiming its best year ever in sales, earnings and profits.

Chairman Luca Cordero di Montezemolo said the company was due for a strong year in 2009 because, "there will always be someone crazy enough to buy a Ferrari," ANSA news agency reported Thursday.

"Today, I'm sure we can still find 6,000 crazy enough to buy our annual output," he said.

Ferrari's parent company Fiat, however, is struggling and may have to delay launching new models, Montezemolo said.

"We started the year off strong and if it hadn't been for the financial crunch even Fiat would have seen its best year ever," he said.

Standing next to another auto company executive, Montezemolo said a short slump might be a good thing.

"This could be beneficial and allow for some market housecleaning," he said. "There are too many producers in the automotive sector."

"But, if it extends into the second half of next year, then we all suffer," he said.