CHINA TOPIX

11/02/2024 11:33:56 am

Make CT Your Homepage

Ferrari to Call Back 621 Luxury Cars in China

85th Geneva International Motor Show : Press Preview

(Photo : Getty Images) A Ferrari 488 GTB is displayed at the Geneva International Motor Show in Geneva, Switzerland.

Italian sports car maker Ferrari will call back 621 imported luxury cars in China due to defective airbags, China's top quality watchdog announced on Wednesday.

Ferrari will recall its Italia series cars manufactured between March 1, 2010, and Sept. 30, 2011, and California series units made from April 1, 2009, and June 30, 2011, according to the General Administration of Quality Supervision, Inspection, and Quarantine. The recall is scheduled to start on Sept. 15.

Like Us on Facebook

The defective airbags reportedly pose safety risks to passengers in the salons as pyro cartridges in the cars can result in damages to its gas generators and cause flying debris when the airbags are inflated.

Ferrari will conduct a check on all affected vehicles and replace the defective parts at no cost, according to Xinhua.

China is one of Ferrari's biggest market. In fact, as supercar sales rose in the country, the Italian luxury brand managed to beat expectations on its second quarter profit for 2016.

According to Bloomberg, Ferrari's adjusted earnings before interest and taxes leaped by 26 percent to $175 million, surpassing analysts' average estimate of $150.9 million. Ferrari's revenue jumped 5.9 percent to $907.1 million.

"The profit targets for 2016 are looking increasingly conservative," Massimo Vecchio, a Milan-based analyst for Mediobanca, told Bloomberg.

In the first half of the year, Ferrari shipped more than 4,000 units. It aims to double the figure and sell about 8,000 supercars within the year.

Real Time Analytics