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Europe’s economic problems sees UK become biggest Ferrari market in Europe

The Ferrari F12 (pictured) helped Ferrari to strong profits in the first half of 2013 The economic crisis in the Eurozone has seen Ferrari’s sales in countries like Italy and Spain plummet, and Greece managed just one sale in 2012 (and even that came to the UK). But Ferrari have a plan to keep profitability by limiting supply and achieving stronger revenues for the sale they do make – with stuff like Ferrari’s bespoke Atelier and Tailor Made services and Classiche work adding more revenue – to keep them powering forward, and it seems to be working despite poor sales in many European countries. In fact, despite an increase of just 2.8 per cent in volume, Ferrari has managed to increase their profits in the first six months of 2013 by an impressive 20 per cent, with total sales of 3,767 and net profits of €1.22 million.

Jaguar Land Rover create 700 more jobs at new engine plant

Jaguar Land Rover has announced that they are creating an additional 700 jobs – double the original – at their new engine plant in Wolverhampton. Back in 2011, we revealed that Jaguar Land Rover were planning a new facility on the i54 development in Wolverhampton to build engines for their cars, removing the reliance on Ford’s (excellent) engines in the process. That investment was to be £335 million with 700 new jobs created in Wolverhampton – and more than 2,000 in the supply chain – but it seems that’s not going to be enough with Jaguar Land Rover sales continuing to grow at a great rate of knots.

Jaguar XK leaves the lineup

Production of the Jaguar XK stretched from 1996 with the XK8 and will wrap up as the final 50 limited edition XK models roll off the assembly line this summer. The farewell XKs will be branded as "Final Fifty Limited Edition" cars, and will carry the same specification as the current XKR model, along with some added features that celebrate the history of Jaguar and the evolution of the brand's grand touring coupes and convertibles. Under the hood, a supercharged 510-hp 5.0-liter V8 is capable of bringing the XK to 60 mph in 4.6 seconds according to Jag, and an active exhaust system helps ensure the engine note remains prominent.