Luxury car brand Ferrari has seen year-on-year worldwide growth of revenues, profit and car deliveries for the first nine months of the year.
Revenues for the brand grew 10% year-on-year to 1.76bn (£1.41bn) with deliveries to its global retail network up by 6% to 5,267.
Go deeper with GlobalData
Trading profit was up 9.6% to 232.8m with net profit up 7.6% to 152.4m.
As a result industrial net cash now stands at an all-time high for Ferrari at 959m with net cash flow, January to September, at 251m.
Everywhere but Rome
Notably, sales in Ferrari’s native market of Italy were down, by 49% to 238 units, but up in "almost all" of the 60 markets in which the brand has a presence.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe UK, where Ferrari launched a financial services arm in 2010 and where the high-end vehicle market appears to have negated the recession, accounted for 9.57% of sales, or 504 units, up 37% year-on-year.
By comparison, sales in the US, Ferrari’s biggest market, were up 16% to 1,354 sales, accounting for 25.71% of the brand’s global market.
Further analysis of automotive brands’ third-quarter results will be published in the November issue of Motor Finance magazine.
richard.brown@vrlfinancialnews.com
