Italian automaker reaffirms commitment to the Egyptian market through MTI Automotive

The press conference came a day after the arrival in Cairo of Ferrari's 60th anniversary relay fleet, which globally will count over 10,000 Ferrari owners and their cars. Launched in Abu Dhabi in January, the final Cairo leg of the relay was marked by a celebratory drive by Egypt's seven Ferrari owners from the Mena House Oberoi at the foot of the Great Pyramids in Giza to the Italian consulate down town, where they met with the Ambassador, presenting him with a gift representative of Egyptian culture.

'We are elated to have ended our celebration rally in Cairo, home of our trusted partner MTI Automotive. Our partnership has prospered since 1998, and it is only fitting that on our 60th anniversary we are celebrating here in Egypt with a team that ensures the level of excellence that Ferrari owners have come to expect,' said Marco Cavagna, Ferrari Middle East and Africa (MEA) Regional Sales Manager.

Known for an exceptional attention to detail and mark of exclusivity, Ferrari has seen its sales in Egypt enjoy solid growth since it partnered with MTI Automotive, Egypt's leading importer of luxury cars, in 1998. MTI achieved 100% target inventory in 2006 and expects a 50% increase in sales in 2007.

'This has been a unique moment for Ferrari and for Egypt. When the Egyptian Ferrari owners drove from the Mena House Oberoi under the Pyramids to the Italian Consulate, they celebrated not only Ferrari's illustrious history, but its emerging place in Egypt,' said Khaled Mahmoud, Chairman of the MTI Automotive.

MTI Automotive announced further expansion plans with the opening of a new state of the art showroom in Cairo that will offer the same Italian standard of service and attention found in any Ferrari showroom across the globe.

'Total customer satisfaction is of the utmost importance to us and with that in mind, this year we are pleased to offer the introduction of a new Quick Service Center in Heliopolis in addition to our exclusive, existing Car Care Center in 10th of Ramadan City,' said MTI's General Manager Ahmed El Gharib.

Ferrari began its 12 month long celebration having just completed an impressive fiscal year that saw company revenues reach 1,447 million, resulting in a trading profit of 183 million with 5,650 cars delivered worldwide to dealerships -- a new record for the acclaimed automaker.

In honor of sales and its 60th anniversary, Ferrari also announced the launch of 60 one-of-a-kind cars, each one linked to one of the 60 most important events in the company's history. These unique cars will be based on the 612 Scaglietti 612 model, known for its blistering performance, superior comfort and meticulous attention to detail.

'Partnering with MTI Automotive was driven by our desire to serve more of our truly global customers. The Egyptian Ferrari driver is in good hands with MTI, and the trends suggest more Egyptian owners hitting the road here in the near future,' said Marco Cavagna.