Ferrari says Middle East sales up 7% in H1

Luxury Italian car maker also says it sees 'on-going success' with Abu Dhabi theme park
Ferrari says Middle East sales up 7% in H1
By Andy Sambidge
Mon 17 Sep 2012 05:23 PM

Italian luxury car maker Ferrari said on Monday that sales in Middle East markets rose seven percent in the first half of 2012.

A total of 190 sports cars were delivered to customers in the region, the company said in a statement.

It added that it had seen "on-going success" with the Ferrari World theme park in Abu Dhabi, without giving further details of its performance.

Ferrari also said its personalisation programmes continued "to enjoy huge success" during H1.

The exclusive new Tailor Made programme, which allows wealthy customers to create their own unique Ferrari, has recently been used by Cheerag Arya, the CEO of JBF, a petrochemicals company based in Ras Al Khaimah, it was reported last month.

The UAE-based businessman has commissioned a special-edition Ferrari 599 GTO - called the Ferrari SP Arya, magazine GTSpirit reported.

Globally, Ferrari said it registered a record in revenues and in the numbers of cars delivered in the first half of 2012.

Revenues reached 1.208bn euros (up 11.9 percent), while a total of 3,664 road cars were delivered to dealerships, an increase of 7.4 percent. Net profits hit 100.8m euros, an increase of 10 percent.

Sales in the US remained buoyant, with an increase of 17 percent to 851 cars, and continued to be Ferrari's largest market.

Record results were also posted in the UK where sales rose by 43 percent with 393 cars delivered.

There were also significant results from Germany (up 18 percent) and Switzerland (up 17 percent).

The figures for Ferrari's home market, however, were in marked contrast. As a result of the financial crisis and the introduction of new taxes, sales dropped to 187 cars, a drop of 164 compared to the first half of 2011.

Chairman Luca di Montezemolo said: "These results, achieved against a still highly challenging international economic backdrop, are first and foremost a reward for our constant and significant investment into technological innovation.

"Over the coming months, we will be focusing hard on a revolutionary new road car and on the last races in a Formula 1 World Championship that looks set to be both thrilling and hard-fought to the very last."

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