In confirmation of rumours which had been around for months it was announced today that the existing Ferrari-Maserati UK business, known as Maranello Concessionaires Ltd and owned by automotive group Inchcape, will be transferred to a new company, Ferrari Maserati UK Ltd, which is wholly owned by the Factory.

A statement from Inchcape says:

"This change is in line with the Ferrari Maserati Group’s strategy of managing its key markets directly and follows recent changes made to its Western European operations. Combined with its already well established North American, German and Swiss subsidiaries, this latest development places the Ferrari Maserati Group in direct charge of its distribution business in major markets.

As part of the continuing partnership with the Ferrari Maserati Group, Inchcape plc will continue to manage the spare parts, including classic parts, business until 30 September 2005 and, importantly, will continue to retail Ferrari and Maserati cars through Maranello Sales Ltd".

Maranello Sales Ltd has three showrooms which together account for about 35.0% of the total UK sales for these brands. In addition to its site at Tower Garage, in Surrey, Maranello Sales Ltd also has dealerships in Sevenoaks and St. Albans