Ferrari's core earnings rose 13% in the first quarter helped by sales of models such as the 2 million-euro ($2.2 million) Daytona SP3 limited-series luxury car and a greater contribution from personalised vehicles.
Item 1 of 2 Ferrari F8 Spider is unveiled during a presentation of two new Ferrari models at an event at the company's headquarters in Maranello, Italy, September 9, 2019. REUTERS/Flavio lo Scalzo/File PhotoFerrari F8 Spider is unveiled during a presentation of two new Ferrari models at an event at the company's headquarters in Maranello, Italy, September 9, 2019.
Shares at the luxury sportscar maker, however, fell on Tuesday as Ferrari confirmed its full-year forecasts, failing to excite investors despite what its CEO Benedetto Vigna called a "very positive" start to the year. He added Ferrari did not plan price increases on existing models after those decided last year, but would rather push further on personalisations.Personalisations are the touches for which a customer pays extra to make the model more suited to their tastes, both inside and out.
Shipments fell by seven units to 3,560 in January-March, dragged by a 20% drop in the China, Hong Kong and Taiwan region, which however only accounts for around 10% of the company's total unit sales.
RULES:RESULTS RATI:ADAS-AV-SAFETY RATI:ELECTRIC-BATTERY RATI:SUSTAINABLE-EV-SUPPLY-CHAIN RATI:FINANCIAL-RESULTS AUT AUTO AUTOMV BACT BIZ CARM CMPNY CYCS CYCS08 EHVEH ELEAV GEN PUBL RES RESF SCI WEU IT EUROP EZC EMEA FIN MTPIX HOT PXP STX TOPNWS TOPCMB
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