The second-quarter profitability of luxury Italian automaker Ferrari increased by 22% as a result of strong sales in the Americas, prompting Ferrari to enhance its year prediction.
MADRID (AP) — Following a 22% increase in second-quarter earnings due to a surge in sales in the Americas, luxury Italian automaker Ferrari boosted its prediction for 2022 on Tuesday.
In comparison to the same period in 2021, the manufacturer of high-performance luxury sports cars reported net profits of 251 million euros ($257 million) from April through June. Up by a fourth, revenue increased to 1.29 billion euros.
Ferrari, situated in the northern Italian city of Maranello, increased its expected net revenue to 4.9 billion euros from 4.8 billion euros and placed the lower end of the range for adjusted earnings before interest, taxes, depreciation, and amortization at 1.7 billion euros rather than the upper end.
Compared to the second quarter of 2021, shipments increased by 29% over the period to 3,455 automobiles. In the Americas, where sales increased from 649 to 1,053 cars, more than quadrupled.
About 83% of deliveries were made up of conventional internal combustion engines, while just 17% of sales were made up of three hybrid engine variants.
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