The magic of Ferrari

THE Italians are famed for their love of style and the best things in life, and nowhere is la dolce vita better expressed than in their finest super-car: the Ferrari.

Despite the firm's dismal showing in F1 racing in recent years and the fuss made of the new crop of expensive super-car makers, the exoticism of Ferrari is closest to the Italian heart.

For example, the reborn Bugatti super-car, built in Modena, the birth place of Ferrari, offers a package of high technology and performance. Its fabulous Cizeta V16 packs four more cylinders under the bonnet than a Ferrari can muster.

But it is Ferrari that builds the most magical cars.

The craftsmen from Maranello blend engineering and bold, sculpted styling to produce machines that blur the boundary between art and science.

But no matter how fine the product, all super-car makers are suffering from the world recession and Hongkong is remarkable for being a Ferrari market not in decline.

For Hongkong dealers, Italian Motors, business is booming.

The company expects to sell 24 cars this year, compared with 16 in 1992 - and China promises to be a lucrative market.

The first mainland specification Ferrari has been delivered and three other cars will soon find a home across the border.

Mr Herbert Adamczyk, managing director of Italian Motors, said that the demand was so strong the company was struggling to obtain more left-hand drive cars than the six allocated by the factory.

The V8-engined 348 is the only model offered to Chinese buyers.

There have been requests for the five-litre, 12-cylinder 512TR, the successor to the Testarossa, but it is unclear whether the factory is prepared to supply the marque in non-catalytic convertor form for the Chinese market.

Just where in China the owner of a 512TR could unleash the 314 kmh, 422 brake horsepower thoroughbred remains a mystery.

But should the factory allow the cars into the Chinese market, Italian Motors will give the same two-year warranty that goes with the 348 in China and cars supplied in Hongkong.

Mr Adamczyk is confident Ferrari cars can survive the rigours of China's road system.

''The philosophy of the company has never changed, Ferrari has always made cars not too close to the edge of technology which would make them unreliable. They are always thoroughly engineered''.

A workshop equipped to handle maintenance has been contracted and a stock of spare parts is held in China.

Mr Adamczyk said if a problem should occur a mechanic would be flown from Hongkong to deal with the situation.

However, the logistical problems involved in sending mechanics to far-flung parts of China are too much for Italian Motors and its partner, Wo Kee Hong Holdings, and sales are concentrated in Beijing.

But business is expected to expand northwards, beginning with a show in Shanghai in June or July.

Italian Motors' main business is in new Ferraris, but the company is concerned with all matters Ferrari. It has a stock of the finest classic Ferraris at all times, with some left-hand drive models.

A 1969 365 GT 2-plus-2 finished in deep red is available for $695,000. The car is almost flawless, having undergone a thorough restoration.

A red Dino 246GTS, arguably the prettiest Ferrari ever made, sits alongside waiting for a buyer.

Perhaps most intriguing is a car that is not in the territory but can be imported through Italian Motors. It is that most rare thing: a race-winning modern F1 Ferrari.

For a mere US$395,000, you can own the car that Gerhard Berger drove to victory at Monza in 1988.