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Ferrari Profits Spike Up Because Of V12 Supercar Sales

By Shor M. Rae , May 05, 2017 04:30 AM EDT

The latest figures are out, revealing which automaker companies made a profit. Ferrari is one of those enjoying a surge in its profits. This is because of the huge sales they made with the Ferrari V12 supercars.

Ferrari Gains Millions With V12 Sales

Ferrari has just announced they have gained huge profits after selling cars that people thought no one could actually afford. However, there were some who were able to and this boosted the Italian automaker’s sales. They have reported that enough sales of the new LaFerrari Aperta supercar have contributed to their record for the first quarter of sales. Apparently, they sold 50 percent more of the said car this year because of the personalization program they introduced to clients, which enables them to choose from unlimited choices of colors and other options for their car.

Their gains spiked up to 29.5 percent, which is closer to how much Apple earned, which was reportedly 31.6 percent. Other vehicle manufacturers did not come close to Ferrari’s record. Fiat Chrysler Automobiles reportedly only reached about 11 percent in profit and General Motors gained 13 percent.

Ferrari Products Pools In With Luxury Goods

Ferrari’s new record has got analysts to conclude that the Italian sports car manufacturer is now part of the circle of luxury goods, especially after catching up to the likes of Apple and Hermes. Analyst Massimo Vecchio said that the pool margins reveal how Ferrari fishes in the same pool with other luxury brands. However, instead of the usual goods, they use slick cars to lure in customers.

CEO and Chairman of Ferrari N.V., Sergio Marchionne has released a statement saying that the surge in profits for the first quarter has given them addition level of motivation to keep on moving forward. He further revealed that the increase in their profit margins has really been Ferrari’s target. The 2016 LaFerrari Aperta model, which helped boost Ferrari’s profits, is a limited version hybrid sports car and only 209 units was reportedly produced.

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