Mexican Media Brands
Ferrari Profits Jump 24%
Ferrari NV reports that its third-quarter revenue grew 7% to €836 million ($974 million), and its adjusted net profit climbed 24% to €141 million ($164 million).
#economics
Share
Ferrari NV reports that its third-quarter revenue grew 7% to €836 million ($974 million), and its adjusted net profit climbed 24% to €141 million ($164 million).
Results were driven primarily by surging demand for the company’s V-12-powered sport coupes. Revenue also was aided by new models and price increases.
Ferrari’s adjusted earnings before interest and taxes climbed 24% to €202 million ($235 million). The company shipped 2,046 cars in July-September, up 68 units from the same period in 2016.
Ferrari raised its full-year outlook to unit sales of 8,400 vehicles and €3.4 billion in net revenue. Ferrari also expects this year to achieve its goal of €1 billion in annual earnings before interest, tax, depreciation and amortization.
RELATED CONTENT
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
Global Car Market to Shrink for 2-3 Years
Global sales of light vehicles will decline year on year through at least 2021, predicts LMC Automotive at its annual outlook conference outside Detroit, Mich.
-
Study: Border Tax, NAFTA Exit Would Hurt U.S.
The U.S. auto industry would lose at least 31,000 manufacturing jobs and 450,000 units of annual sales if the U.S. imposes 35% tariffs on cars from Mexico, as President-elect Donald Trump has vowed to do.