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.
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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.
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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
