Following the announcement made by Ferrari yesterday regarding the end of its business partnership with Naza Italia as of April 8 this year, the Naza Automotive Group has issued a statement on the matter.
In it, the group explained that the parting of ways with the Italian automaker was due to a difference in strategy and the inability to agree on an aligned direction for the business. The following is the Naza response statement in full:
“In the past few years, the Naza automotive business had reviewed our brand mix to decide on what fits into our business strategy. We have agreed to conclude our relationship with Ferrari S.p.A (Ferrari) due to the non-alignment of their expectations to our strategy.
The parting ways with Ferrari is timely for us as it will enable us to focus on our other brands and serves well for our other brands as we will be able to reallocate resources to brands that fit into our automotive business strategy.
We will continue to provide support to Ferrari for a smooth transition of business, towards April 2023. We would also like to express our appreciation to Ferrari for the long-standing business relationship and wish the Ferrari brand continued success for the future.”
Ferrari has not yet revealed the identity of its new Malaysian partner, but a number of companies are reportedly vying for the franchise rights, with a number of big names being circulated in the rumour mill.
The end of its business relationship with Ferrari means that Naza Italia is left with Maserati – which it will continue to represent in the country – in its portfolio. Aside from Maserati, the Naza automotive group has Ducati (Next Bikes) and Suzuki (Naza Eastern Motors) as its other automotive brands.
The post Naza issues statement on its separation from Ferrari appeared first on Paul Tan's Automotive News.
* This article was originally published here
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