Ferrari Claims ‘Record Year’ as Sales and Profits Rise
Ferrari says it is on course for a record 2016 after showing a rise in sales and profits for the first three months.
Spun off from Fiat Chrysler Automobiles (FCA) last year, the Italian sportscar manufacturer sold 1,882 cars in the first quarter, up 15% from the previous year.
Profits are claimed to have risen 19% to £61.3m, with all major sales regions experiencing year-on-year increase – Europe, China, and the Middle East saw double-digit growth.
Company bosses say this performance was largely driven by a 21% increase in sales of the brand’s V8 models, led by the newly launched 488 GTB and the 488 Spider.
However, shipments of Ferrari’s 12 cylinder models declined by 6%, which bosses say was down to the phase out of the FF, the completion of the lifecycle of the F12berlinetta and LaFerrari finishing its limited series run.
Overall, Ferrari’s strongest market remains Europe, where deliveries of cars rose 24% to 950 units.
The carmaker has further announced that Sergio Marchionne will take over as chief executive from Amedeo Felisa; Marchionne will simultaneously remain chief executive of FCA.
Last year, Marchionne proposed a megamerger between FCA and GM, claiming the two automotive giants could save billions by joining forces.
Following a subsequent brushoff from GM, Marchionne then stated that the only candidates for a merger with FCA would be Ford, Toyota, and Volkswagen.