Ferrari Supercars Bring In Record-Shattering Earnings

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Ferrari has witnessed record-shattering sales for 2016. Sergio Marchionne, President of Ferrari anticipated and predicted 'Phenomenal 2016' on a full-year of sales. They now believe they can raise their guidance prior to 2016-end.

European and Chinese markets have been instrumental in the record-shattering sales. Special editions and personalised models by Ferrari have boosted sales. Ferrari officials also paid close attention not to disrupt the exclusivity and image of the Italian supercar brand.

Shares of Ferrari in New York increased substantially by three percent. It was still a bit short of their IPO cost of 52, however, it was the highest level since January 2016. Ferrari President wants to compete with high-end luxury brands like Prada, Herme, and several others.

Deliveries in the recent quarter increased by eight percent, accounting to 2,214 supercars. The Ferrari 488 GTB and Spider models have been the most popular sellers. Plans for 2017 have not been sketched out yet, and Sergio Marchionne is expected to announce it soon.

Currently, Ferrari believes they will be delivering approximately 8,000 supercars in 2016. By 2019, the Italian supercar maker plans on delivering 9,000 supercars per year. The volumes will increase, however, they believe they can still maintain exclusivity.

Read more on: #ferrari #auto news
Story first published: Saturday, August 6, 2016, 16:30 [IST]
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