Ferrari profits rise thanks to UK growth

Ferrari has revealed overall sales rose by 11.5 per cent in the first three months of 2012 – and UK sales were up by almost a third.

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Ferrari delivered 1,733 cars in Q1 2012, with 177 finding homes in the UK. Ferrari chairman Luca di Montezemolo described the British performance as “excellent” in presenting the results at Ferrari’s AGM yesterday.

Sales were up in other key markets too: Ferrari’s biggest country, the US, was up 16 per cent, Germany was up 24 per cent and the Middle East was up 23 per cent.

Two models in particular led this growth: the new Ferrari FF and the Ferrari California, recently revised for the 2012 model year. Indeed, the California remains Ferraris’ best-selling GT car.

Ferrari California 2012 driven

The strong sales performance helped Ferrari raise €556m in revenue, an increase of 13.2 per cent. It was in profit overall too, with cash returns of €42.1m being a 17 per cent rise on 2011.

Ferrari’s strong cash position mean it has €860m in the bank, the strongest in its history.

The firm also revealed a fascinating detail within its financial statement – 100 per cent of Ferraris that leave the factory were personalised in some way so far this year.

In other words, Ferrari has not sold a single ‘standard’ car in 2012…

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