Pininfarina struggling, seeks new partners

[webby]

Filed under: Concept Cars, Euro, Plants/Manufacturing
Legendary design house Pininfarina is looking for some new partners to help stop the flow of red ink. A few high-profile projects in the past several years haven't done much to diminish the losses, apparently. As much as we loved the Glickenhaus Ferrari 612 P4/5 and 612K, a couple of gorgeous one-offs couldn't possibly be enough to keep an operation of this size afloat. Although Pininfarina is also building the Alfa Romeo Brera coupe and Spider, Ford Focus Coupe Cabriolet, Mitsubishi Colt CZC, and the Volvo C70, times are tough.

The company has lost almost twice as much money so far this year as they did during the same period last year: 39.1 million euros compared to "just" 16.3 million euros for the same period in 2006. After letting Ken Okuyama get away from them and losing Lorenzo Ramaciotti to FIAT, they need to make some important decisions soon if they want to keep the house of Farina afloat. To help right the ship they've already started working with automotive consultant Roland Berger and with financial advisers, Rothschild.

The initial plan is to add manufacturing partners to help reduce Pininfarina's financial risks in this unpredictable contract manufacturing business. The brand name is golden, but it hasn't managed to attract enough projects recently. Hopefully these new advisers will be able to save this great Italian institution.

[Source: Automotive News, sub. req.]
Read | Permalink | Email this | Comments


More...