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Tags: EU | Italy | Earns | Ferrari

Ferrari Driven by Surge in Sales in China

Tuesday, 07 May 2019 07:38 AM EDT

MILAN (AP) — Automaker Ferrari says its profits rose in the first quarter as demand for its luxury sports cars grew strongly, particularly in China.

The Italian manufacturer, which has shares listed on the New York Stock Exchange, said Tuesday that its net profit grew to 180 million euros ($202 million) in the three months through March, up from 149 million euros in the same period a year earlier.

It shipped 2,610 cars in that period, up 23% thanks in part to the popularity of its Ferrari Portofino model with a V8 engine.

Deliveries were particularly strong in China ahead of the implementation of new emissions standards. Demand also grew in the U.S. and Europe.

Ferrari stuck to its earnings outlook for revenue to grow by over 3% this year.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
Automaker Ferrari says its profits rose in the first quarter as demand for its luxury sports cars grew strongly, particularly in China.The Italian manufacturer, which has shares listed on the New York Stock Exchange, said Tuesday that its net profit grew to 180 million...
EU,Italy,Earns,Ferrari
129
2019-38-07
Tuesday, 07 May 2019 07:38 AM
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