Ferrari set for record year

Posted on 19 May 2017 and read 318 times
Ferrari set for record yearItalian sports-car maker Ferrari said it is on course for a record 2017, after reporting that it sold more than 2,000 cars world-wide during the first quarter (121 more than last year), driven by a 50% increase in its V12 model.

The figures show that 1,034 of these sales were to the Europe, Middle East and Africa region, 545 were to the Americas, and 161 were to China, Hong Kong and Taiwan.

Meanwhile, the Asia Pacific region accounted for 263 shipments, 58 of which were to Australia. A spokesman said: “The likes of the GTC4 Lusso and the new LaFerrari Aperta hybrid convertible, which sold out last year before its official debut, have proved particularly popular.”

Ferrari said that its adjusted first-quarter earnings before interest, tax, depreciation and amortisation increased to 242 million euros.

The firm said that it expects to sell 8,400 cars this year and is targeting 950 million euros in adjusted earnings. CEO Sergio Marchionne said: “We just found an additional level of motivation to move the organisation forward.”

Massimo Vecchio, an analyst with Mediobanca in Milan, said: “The Italian super-car maker is tapping into the increasing wealth of the world’s elite.”

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