Are Luxury Brands Hurting?

The new Ferrari California: The first flat front engine hardtop roadster to wear the Prancing Horse

Ferrari is a brand that has long reaching tentacles in more than just the automotive industry. They license everything from clothing, to shoes, to computers. Over the years Ferrari has built their heritage on the back of performance racing. 

Interesting, Ferrari recently opened up a dealership in Calgary, Alberta. This year would likely be the first year that Ferrari of Alberta will ship new cars. Unfortunate timing perhaps, as Calgary's economy is heavily invested in oil and gas. With barrels touching below $40 I can assure you that there are people questioning what may come of the economy in the next year or so... 

Does this mean that luxury brands like Ferrari will suffer? My guess is everyone will get affected one way or another. Likely they may have to adjust their business just like everyone else. Regardless, their brand is strong and their company is very strong -- so no matter what they'll come out ahead.

That said, I was not surprised to see Honda pull out of Grand Prix/F1, I wonder who will be next?