Ferrari Says There Are Fewer Rich Miners Buying Its Cars In Western Australia

The new Ferrari California T (Photo: Getty Images)

A senior Ferrari executive says sales in Australia have shifted in line with the end of the mining boom, with more cars now being sold on Australia’s east coast.

Herbert Appleroth is the company’s Australasian chief executive. He spoke to The Australian about the shift in the luxury automaker’s sales at the launch of its newest model, the California T:

“We are seeing NSW and Victoria certainly growing faster than other states. We are seeing a pretty good reaction in Queensland, and New Zealand is extremely bullish,’’ he said.

“Whereas in the last few months we have seen (a) conservative approach from some of our clients in Perth — a stalling approach — we are sure with the new product that will change things.”

Declining mining investment played a large part in the shift though Appleroth also said the state of the property market in Perth affected sentiment.

And he had this great anecdote to explained that Ferrari isn’t beholden to the same indicators as average-joe automakers.

Economic indicators are a good sign, but it is more about property and the stock market and things like that. When there is positive sentiment, we tend to get good spin-off from that.”

There’s more here.

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