Ferrari signals higher profits on strong global demand for sports cars

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Ferrari delivered a record number of cars last year as demand for luxury vehicles surged globally despite the Covid-19 pandemic and the sports car maker predicted an increase in its core earnings for 2022

, and represented a 34% increase on the previous year.

Milan-listed shares in Ferrari erased losses after the results were published and were up 0.1% by 12.55 GMT. Similarly, German sports car manufacturer Porsche, a unit of Volkwagen, delivered more than 300,000 vehicles last year, with an increase in all regions, especially the US, while China became its largest single market.

 

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