Ferrari Reports Increasing Income Despite Low Sales

Income rose for Ferrari through the 2nd quarter despite the automaker’s decision to slow production.

Experiencing high demand across its model range, the automaker announced a net profit increase of 20 %.
Revenue increased 7.1 % to 1.17 million euros ($1.56 million) and the automaker announced delivering 3,767 vehicles to its dealer network. That volume represents a boost of 2.8 %, but a slowdown in comparison to the 1st quarter of 2013.

The brand reported in May that it would slow production to defend the exclusivity of its brand. The company informed it maintained minor growth to keep the waiting list in North America from exceeding 2 years.

High demand for the California 30, 458 Spider, FF and F12 Berlinetta helped drive the company’s rising profits through the 2nd quarter. Predictably slow deliveries in Italy accounted for 3 % of overall deliveries while the U.S. scooped up almost 28 % with 1048 units sold.