2010 Was Record Year for Ferrari

Ferrari said 2010 was “an exceptional year” with a record number of vehicles sold thanks to a boom in Asia and the recovery of the US market.

Last year, the company sold 6,573 new Ferrari sports cars, an increase of 5.4 percent on the year before and “Ferrari’s highest sales figure ever,” according to a statement.

Net revenues for the year reached 1,919 million euros, a rise of 7.9 percent, while the year’s trading profit topped 302,7 million euros, an increase of 26.9 percent.

The Italian carmaker said the “excellent results” were for the most part due to “the extraordinary growth seen on emerging markets, especially in Asia, and the return of the United States market to record levels.”

Sales in China grew by 43.6 per cent with nearly 300 cars sold, setting a new record. North America as a region (including the United States and Canada) remained the main market for Ferrari, accounting for 26 percent of sales. The European markets remained substantially stable.

Ferrari confirmed it is set to move into the Indian market, with the first official dealership to open in New Delhi this spring and a second in Mumbai by the end of the year.

The Fiat group, which controls Ferrari, announced at the end of January it returned to profit in 2010 with a net profit of 600 million euros ($820 million) last year, reversing a loss of 848 million euros in 2009.

Source: Yahoo news

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