[Not so] Phantom Ferrari Owners

A Report by Claudio González Caraza [source]

Sixteen luxury cars, including 11 Ferraris are registered in this private house complex in the State of Morelos, including a Ferrari 458 Coupé under the name of Raúl Cervantes Andrade, Attorney General of Mexico.

"[...] four of the houses in this [...] unit registered the sixteen luxury cars under this address, eleven of them Ferraris.

The disparity of the value of these houses and the value of the cars has one simple explanation: this house complex has been used as a 'paper address' when it came to the registration of these cars.

A Ferrari executive [...] estimates that in all Mexico, 600 Ferraris have been hardly sold over the last 10 years. According to the informal data from the Mobility and Transport Secretariat, [...] in Morelos, 372 cars were registered under that brand, models that range from 2008 to 2016. This means that just in Morelos, a state that represents the 1.2 GDP (Inegi 2015), 62% of the overall sale of these cars have been purchased in the last decade."