Ferrari GTC4 Lusso is an all-new four-seat model that integrates rear-wheel steering with four-wheel drive for the very first time on the stand in Beijing. China remains a key focus for the world famous Italian super car maker.
Ferrari N.V. (NYSE/MTA: RACE) said today its consolidated preliminary results for Q2 – a record – and six months ended June 30, 2016, which is shaping up to be a another record year. During Q2 total shipments reached 2,214 Ferraris, up 8% (+155 units). Net revenues grew 5.9% (+6.2% at constant currencies) to €811 million. Adjusted EBIT of €156 million, 310 basis points margin increase. Adjusted net profit increased 35% to €104 million.
Net profit for Q2 was € 97 million, up €21 million (+29%) due to the combined effect of strong EBIT and lower tax rate versus previous year, partially offset by charges for Takata airbag inflator recalls (Ferrari Recalls All 2015 Cars. Bad Takata Airbag Stops Sales). Net industrial debt at €763 million was better than March 2016.
Shipments totaled 2,214 units in Q2 2016, up 8% from the previous year. This performance was driven by a 16% increase in sales of V8 models led by the success of the two launches – the 488 GTB and the 488 Spider.
Shipments of V12 were down 22% due to the phase-out of the FF, the F12 Berlinetta now in its 5th year of commercialization and LaFerrari that finished its limited series run. This was partially offset by the introduction of the new F12 TDF.
For the first six months of 2016 based on sales of 4,096 (+11%), net profit at €175 million increased 24%. Ferrari said it is on track for its second straight record year.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
