Ferrari is no longer at the façade of the Oceania Business Center, at Punta Pacífica, Panama City.
The sign of the brand was withdrawn this week, a change that goes beyond the aesthetic.
It symbolizes the outcome of a story that began with an intercorporate loan, continued with an equity shift that altered the control of the distributors of Panama and Colombia and culminated with the decision of Ferrari North America to put an end to the official representation of the brand in both countries.
The decision was adopted by Ferrari North America, a subsidiary with responsibility for the network of distributors in both countries, and on June 4, 2026, it notified the immediate termination of the contracts for the importation and distribution of Automoviles Italians de Panama S.A. and Autos Italians de Colombia S.A. The measure leave both companies without permission to sell new vehicles, manage purchase orders, provide after-sales services or conduct official guarantees.
The decision became of public relevance when several buyers in Colombia reported that they had delivered advances of hundreds of thousands of dollars for Ferrari vehicles that were never delivered.
According to information published by Portafolio Semana, La República and other Colombian media, Autos de Alta Gama Holdings Inc. gave a loan to Italian Motors Holdings S.A., a company owned by the companies that distribute Ferrari in Panama and Colombia.
According to information disclosed, resources or funds should be used exclusively as labour capital to sustain the operation of Ferrari in both countries.
To guarantee financing, Italian Motors Holdings gave a pledge of 99% of the shares of the companies that operated the brand’s representation.
Nevertheless, after its failure to pay the obligation, in May 2026, the company gave up that equity package to the creditor, who moved to check the distributors.
That change of corporate control is a turning point throughout history.
According to information disclosed, Ferrari North America found that the share change occurred without its authorization, a regular requirement for contracts for the distribution of luxury trademarks.
He soon reported his official representation’s completion in Panama and Colombia.
Following an information about the loss of representation, another version came up about the reasons that would have motivated Ferrari’s decision.
Caracol Radio published that the Salvadoran entrepreneur Adolfo ‘Fito’ Salume Artiñano had been admitted as an investor to the operation after being contacted by the then administrators of Italian Autos, who sought resources to face financial problems.
According to this means, the agreement included the assumption of these obligations and was reflected in a contract signed in Panama.
The same means, citing sources close to the negotiations, indicates that Ferrari North America expressed his concern about Salute’s entry into the corporate structure and that these differences spread for several months before the end of his representation.
Nevertheless, Ferrari did not publicly confirm that that was the official reason for canceling contracts.
Ferrari North America is expected to contact customers for some service or technical assistance while appointing a new representative.
