PETALING JAYA: Naza Italia today officially said it is parting ways with Ferrari following weeks of rumours that it was losing the franchise.
It said it would continue to support Ferrari activities in Malaysia until the end of the partnership on April 8.
Naza Italia said that the decision to end the relationship was a result of "non-alignment of Ferrari expectations to our business strategy" following a corporate review of its brand mix.
"The parting of ways with Ferrari is timely for us as it will enable us to focus on our other brands that fit into our automotive business strategy," it said in a brief statement.
Earlier today, Naza Automotive Group CEO Mohd Rizal Jailan had said the Naza Group would stay invested in the automotive business and it is working to grow existing brands under its distributorship, which currently counts Maserati, Suzuki and Ducati.
Ferrari appointed Naza Italia as its distributor in 2008.
Below is the press statement from Naza Italia.
