Dennis Uy’s Motostrada Inc. Appointed Exclusive Distributor of Ferrari in the Philippines
Dennis Uy’s Motostrada Inc. is now the exclusive general distributor and dealer of Ferrari sports cars, parts, and accessories in the Philippines. The announcement was sent to media organziations on Friday evening, October 25, although representatives for both Ferrari Far East and Middle East and Motostrada were in Singapore on October 15 to formalize the agreement.
Uy, who is chairman of Motostrada Inc. also chairs the Udenna Group conglomerate, which counts amongs its many businesses oil retailer Phoenix Petroleum, the Family Mart chain of convenience stores, shipping and logistics company 2Go Group, hospitality school Enderun, restaurant chain Conti’s, as well as Dito (formerly Mislatel), which was awarded a license to operate as the country’s third telecommunications company, and many others.
Dieter Knechtel, CEO Far East & Middle East and Dennis A. Uy, Chairman,
In October 2018, during the Philippine launch of the Ferrari Portofino, Wellington Soong of Autostrada Motore, the company that previously distributed the Italian luxury sports car brand in the country, announced that Uy had come onboard as an investor and business partner.
The appointment of Motostrada as Ferrari’s official distributor in the Philippines would seem to suggest that Soong has taken a step back and allowed Uy’s new company to handle the reins of the iconic luxury supercar in the country.
“It is our pleasure to be appointed as the general distributor of Ferrari S.p.A. in the Philippines and have the privilege to be the stewards of the strongest automotive brand in the world,” Uy said in a statement.
“It is important to find the right partner that understands the local market and can offer the level of service, professionalism and performance that will deliver to the inimitable Ferrari standard,” said Dieter Knechtel, CEO of Ferrari Far East & Middle East. “We have full confidence that Motostrada will be able to meet the rising needs of Filipino customers and to consistently provide the best dealer experience. We look forward to a successful and fruitful future together.”
A company that hardly needs any introduction, Ferrari is one of the most recognizable car brands in the world. Its history and the image enjoyed by its cars are closely associated with its Formula 1 racing team, Scuderia Ferrari, which is the most successful team in Formula 1 history.
Ferrari cars are also some of the most prized, not to mention most expensive, in the world.
In 2019, Ferrari was recognized as “the strongest brand in the world” in the Brand Finance Global 500 2019 report, besting other brands like Lego, Disney, Coca-Cola and McDonald’s. The rankings are based on factors that include marketing investment, business performance, and stakeholder equity.
“There is a reason why Ferrari sports cars are so popular in the Philippines and we are committed to offering the complete Ferrari experience to each and every one of our customers,” said Ginia Domingo, Motostrada president. “Extremely beautiful sports cars, coupled with strong after sales support and backed by a dedicated team, we’ll ensure that we will truly impress the most discriminating car lovers. We are excited to bring Ferrari to more Filipino motorists.”