Ferrari posts record profit, greater China sales up by 3pcBusiness | 4 May 2017 8:57 pm
Luxury Italian sports carmaker Ferrari has announced a record first quarter as sales of its V12 models boosted profits by 60 percent.
Ferrari, based in the northern Italian city of Maranello, announced net profits of 124 million euros in the first quarter, up from 78 million euros a year earlier.
Revenues were up by 22 percent to 821 million euros, with shipments growing by 6 percent to 2,003 units. Deliveries of 12-cylinder V12 models grew by half.
Sales in Europe grew by 9 percent, powered by double-digit sales in Germany, France, Italy and Britain, while deliveries gained by 4 percent each in the Americas and the Asian Pacific, which excludes greater China, where sales were up by 3 percent.-AP