Tuesday 16 October 2018

Ferrari Mideast sales up 36pc in H1

Jeddah, August 18, 2013

Italian sports car manufacturer Ferrari delivered 264 cars in the Middle East during the first half of the year, marking an increase of 39 per cent over the corresponding period in 2012, a report said.

Growth was in double figures in the Middle East (+39 percent, 264 cars) and Japan which, with 172 delivers in this first six months (+28 percent), has returned to near pre-crisis levels.

Globally, Ferrari sales grew by 22 percent in the first six months of the year, while net profits reached $116.2 million, a rise of 20 per cent, and revenues rose to 1,177 million euros, equivalent to a growth of 7.1 per cent, according to the report in the Saudi Gazette.

US business continues to grow (+9 percent) with 1,048 homologated cars delivered (this area includes Canada). Despite Ferrari's decision to reduce sales, short-term forecasts suggest that there will be a slight increase over the next few months to avoid lengthening the waiting list to over two years, the report said.

Great Britain topped the European market with the delivery of 415 cars, up 6 per cent, followed by Germany, which, with 388 deliveries (+1 per cent), matches its 2012 figures. Italy sales continued to fall, with 116 cars delivered, accounting for just 3 per cent of total volumes.

"Once again in the first six months of 2013, Ferrari has recorded excellent results. Two months ago, we took a strategic decision the effects of which will be felt more clearly over the next six months. However, that move is already beginning to make its mark," said Ferrari chairman Luca di Montezemolo was quoted as saying in the report.

"An increase of just over 2 per cent in volumes has been matched by 20 per cent growth in EBIT which is and will remain our primary objective along with maintaining the exclusivity and value of our cars over time,” he added.

Tags: Ferrari | sports car | Middle East sales |

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