Ferrari ‘set for record year’ due to rise in sales and profits

Ferrari stated it was on course for a record 2016 after publishing an increase in revenues and sales for the very first three months.

The Italian maker of cars, spun off from Fiat Chrysler Automobiles last year, sold 1,882 vehicles in the first quarter, up 15 % on the 2015 duration.

Profits increased 19 % to EUR78m, with sales in Europe, China, and the Middle East increasing by double-digits.

Ferrari also verified its chairman would include the chief executive’s function.
The appointment of Sergio Marchionne to the dual function, taking over as chief executive from Amedeo Felisa, had been anticipated. Mr Marchionne is likewise chief executive of Fiat Chrysler.

Deliveries of cars increased 24 % in Europe, Ferrari’s strongest market, to 950 examples, but just 2 % in the Americas to 523 devices.

The sales development was driven by Ferrari’s eight-cylinder section (V8), including two brand-new designs, the 488 GTB and the 488 Spider. Deliveries of its V12 designs slipped by 6 %.