Ferrari reported a 60% increase in first-quarter net profit yesterday - and a massive 22% operating margin - on strong worldwide sales of its various models.
Sales of Ferrari's higher-priced 12-cylinder models, including the GTC4Lusso, the F12tdf two-seater, and the limited-production LaFerrari Aperta supercar, rose 50% from a year ago.
CEO Sergio Marchionne is seeking to safeguard Ferrari’s image for performance and exclusivity with cars such as the $2.1 million Aperta, which sold out last year before its official debut.
At the same time, he is seeking to boost volume and profit to appease investors. The carmarker, which previously capped annual production at 7,000 vehicles, is on track to sell 9,000 by 2019.
Ferrari also boosted revenue and profit on its sports cars via a "personalization program" that allows customers ordering Ferraris to add exclusive features.
Revenue from sponsorship, commercial, and brand opportunities rose 4%, to 123 million euros, on higher sponsorship revenue related to Ferrari's Formula 1 team.
The iconic automobile manufacturer also indicated that its research and development costs rose by about 15 million euros from a year ago, mostly on efforts related to the development of gasoline-electric hybrid technology for its road and racing cars.