Ferrari Posts Record Financial Results in First Quarter of 2013
The carmaker registered record quarterly revenues of EUR551 million ($715M), which can be translated into an 8 percent increase over the same period of last year. This allowed Ferrari to record a net profit of EUR54.7 million ($71M), a whooping increase of 35.5 percent.
Ferrari pushed 1,798 cars to its dealers in Q1 2013, a 4 percent increase, with the 12-cylinder FF and F12 Berlinetta accounting for almost a quarter of that.
North America is still chief among Ferrari markets, accounting for 27 percent of the sales. A total of 492 Ferraris were delivered here, representing a boost of 9 percent. The Far East was also happy to receive 336 Ferrari vehicles, an 18 percent increase. In addition, Japan and Australia both showed a double-digit increase.
Greater China, consisting of People’s Republic of China, Hong Kong and Taiwan, kept the values recorded in the Q1 2012. As for the Middle East, deliveries here rose 74 percent, but Ferrari’s home market, Italy, saw sales plunging 54 percent.
Ferrari recently announced that it wants to limit the volume of cars it sells in order to increase margins and focus on offering more exclusivity. This sounds good, but it could hide the company’s true intentions - it is believed that Ferrari introduced this plan due to forecasting a sales decline for the future.