Naza in talks with Ferrari on next step forward, to issue statement soon, says CEO

PETALING JAYA: Naza Italia is working with Ferrari on the future direction of the brand and would issue a statement soon, says Naza Automotive Group CEO Mohd Rizal Jailan.

He declined to comment on news that Ferrari would terminate the franchise deal with Naza Italia.

WapCar.my reported on March 7 that Ferrari S.p.A had confirmed that it would end its business partnership with the local Ferrari franchise holder from April 8. The Italian luxury brand was reported as saying that Naza Italia would continue to honour all sales and aftersales activities until the cessation date. A new distributor would be announced in due course.

Mohd Rizal said the Naza Group would stay invested in the automotive business and it is working to grow existing brands under its distributorship, which counts Maserati, Suzuki and Ducati.

Naza Italia's other Italian luxury car brand, Maserati, had recently launched the Grecale GT and Levante GT Hybrid SUVs.

The Naza Group is in the midst of a corporate overhaul and had said in early 2021 that it would continue to be involved in the auto business even as it has given up Kia, Peugeot, Chevrolet, Harley-Davidson and a string of other motorcycle brands.

However, the automotive business will no longer be a main revenue source after the revamp as the 47-year-old group is banking on property development and asset management to lead the way.

Under the overhaul plan dubbed Naza 2.0, the highly diversified group would have a “centralised-focus” structure across four verticals – property and construction; asset management; niche & premium automotive; and other businesses.

In the automotive space, Naza will focus on niche, luxury and exclusive brands, group executive chairman SM Nasarudin SM Nasimuddin had said at the time.

The overarching goal is to change and become lean and streamlined for long term sustainability, he said, adding that the overhaul would cut across the group's more than 40 active businesses.