Ferrari Revenues Increase Despite Fewer Deliveries

Ferrari’s recent announcement that it planned to increase revenues by increasing exclusivity rather than larger sales figures has paid dividends according to the company’s financial figures during the first half of 2013. However, the rise in Ferrari’s revenues were not just minor, and instead the company posted a 7.1% increase compared to last year totalling around $2.2 billion.

Those higher revenues fall in line with a 20% increase in net profits during the first half of 2013. That results in a total profit of $153.5 million. Throughout this time period, Ferrari delivered 3,767 vehicle which while an increase of 2.8% over last year, is a slower growth rate than posted in the first quarter of this year. Ferrari’s latest tactics are hoped to decrease deliveries to around 7,000 units throughout all of 2013 and they are well on target to achieve that.

Despite that new aim, Ferrari did see growth in the U.S, Great Britain, Germany as well as a 39% rise in the Middle East and a 28% rise in Japanese deliveries, Conversely, deliveries in China actually decreased by 50 units.

While Ferrari’s new tactics to focus on exclusivity rather than larger production numbers seems to be already taking effect, the move is expected to have far greater impacts on revenue and net profit figures by the end of this year.

[Via Autoblog]

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