Ferrari driven by Spike in Earnings in China

Share on StockTwits

Automaker Ferrari claims its profits climbed in the first quarter as demand for the sports cars grew strongly in China.

The Italian producer, which includes shares listed on the New York Stock Exchange, said Tuesday its net profit climbed to 180 million euros ($202 million) in the 3 months during March, up from 149 million euros in exactly the identical period a year before.

2,610 automobiles were shipped by it to the popularity of its Ferrari Portofino model.

Deliveries were particularly powerful in China before the implementation of emissions criteria. Demand also climbed in the U.S. and Europe.

Ferrari adhered to rise by more than 3% annually.