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Ferrari S.p.A. has confirmed that it will be ending its business partnership with Naza Italia, currently the sole authorized distributor of Ferrari vehicles in Malaysia.
“The cessation of the business partnership between Ferrari S.p.A. and Naza Italia Sdn Bhd (Ferrari Malaysia) will be effective 8th April 2023. Naza Italia will continue to fulfill its responsibilities to customers for Sales & Aftersales activities until then,” said a spokesperson for Ferrari Far East & Middle East Hub, in an email reply to WapCar.my.
This comes after weeks of intense speculations within the local automotive industry, with several sources claiming that Ferrari will not be renewing its distributorship contract with Naza.
Naza Italia was appointed the official distributor for Ferrari in 2008, taking over from previous distributor Next Car.
The identity of the new Ferrari distributor is still unclear, but the company says an announcement will be made in due time.
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Naza Italia’s other distributorship business with Maserati will continue as usual. Last Friday, Naza Italia had just hosted the local launch of the Maserati Grecale.
Although closely associated with Ferrari due to the latter’s one-time ownership of the trident badged brand, Maserati currently operates independently from Ferrari S.p.A., under the Stellantis group. As such, this latest rearrangement won’t have any impact on Maserati’s business in Malaysia.
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The loss of Ferrari, a crown jewel of the Naza group, is the latest setback for the family-owned company, which is now run by the late founder Tan Sri SM Nasimuddin SM Amin’s children.
Prior to this, Naza has already stopped its business with Chevrolet, Kia, and Peugeot. The latter two brands are now represented by Bermaz Auto. There was also a short-lived business with Koenigsegg (Naza Swedish Motors).
On the two-wheelers side of the automotive business, Naza has already lost Harley Davidson, Vespa, Aprilia, Indian, and Victory.
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Naza’s remaining automotive distribution businesses are Maserati (Naza Italia), Ducati (Next Bikes) and Suzuki (Naza Eastern Motors).
On the retail front, Naza still has the Mercedes-Benz dealership business, operating under NZ Wheels, which also supplies Franchise APs to Mercedes-Benz Malaysia to import CBU cars.
Since 2020, Naza has been talking about the Naza 2.0 transformation plan, which involves trimming down its automotive business to focus on property development.
