Ferrari reports record business performance in 2016

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The Ferrari J50, a commemorative model (only 10 will be built) to mark Ferrari’s 50th anniversary in Japan. The 680-horsepower supercar is based on the 488 Spider, and will be delivered in 2018, Ferrari said. Photo Ferrari N.V.

MARANELLO, Italy: Ferrari NV on February 2 announced its consolidated preliminary financial results for the fourth quarter and twelve months ending December 31, 2016, saying it had a record-setting performance ahead of its 70th anniversary year in 2017.

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Shipments of new vehicles totaled 8,014 units in 2016, up 350 units or 4.6-percent higher than the previous year.

“This achievement was driven by a 5-percent increase in sales of our 8-cylinder models, led by the success of both the 488 GTB and the 488 Spider. Shipments of the 12-cylinder models were up 4 percent, thanks to the newly launched GTC4 Lusso and LaFerrari Aperta, which are ramping up, as well as the strong performance of the F12tdf,” the company said.

Ferrari said all global regions saw growth in 2016, led by the Europe, Middle East, and Africa (EMEA) region with 8 percent growth compared with 2015. Deliveries in Greater China only rose one percent, however, “due to Ferrari’s decision to terminate the current distributor in Hong Kong in the fourth quarter of 2016,” the company explained.

Ferrari said its net revenues reached 3.105 billion euros, 251 million euros or 8.8 percent higher than 2015.

Other highlights of 2016 include the unveiling of the first images of the J50, a limited edition of 10 cars that will be built during 2017 to commemorate the company’s 50th anniversary in Japan. The J50, based on the 488 Spider, is powered by a specific 690-horsepower version of the 3.9-liter V8 that won the overall 2016 International Engine of the Year Award.

For 2017, Ferrari is forecasting shipments of approximately 8,400 vehicles including supercars and expects its net revenues to reach 3.3 billion euros.

BEN KRITZ

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