Record first quarter for Ferrari and Maserati

Fiat Group’s luxury brands Ferrari and Maserati have both posted record results for the first quarter of 2008, despite global economic uncertainty and increasing stock market volatility.

Ferrari’s profits have been fueled by higher sales in its V12-powered line up, the 612 Scaglietti and 599 GTB Fiorano, with customer deliveries jumping 4 percent to 1,654 units.

Revenue grew almost 20 percent to 456 million euros, with its trading profit almost doubling to 59 million euros compared with the same period last year.

Last year, Ferrari set its best record for revenues, up 15.3 percent to 1.67 billion euros. Its trading profit was up 45.3 percent to 266 million euros and unit sales up 11.1 percent to 6,488 cars.

Maserati increased vehicle deliveries 21.3 percent to 2,234 units in the first quarter, greatly due to the success of the new GranTurismo four-seat coupe.

This has resulted in a 10 million euros trading profit compared with 1 million euros it had lost in the same period last year.

In 2007 Maserati reported a 24 million euros trading profit, returning to the black after 18 years in the red.

© Source: caradvice
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