Ferrari had the greatest year in its history during 2012 with record-breaking sales and financial results, the Italian automaker has announced.
During 2012, Ferrari sold 7,318 cars, an increase of 4.5 percent from its previous record of 7,195 sold during 2011. The sales created revenues of $3.2 billion, an increase of 8 percent over the previous year, resulting in a net profit of $325 million, an increase of 17.8 percent
This profit level equated to a return on sales of around 14.4 percent, which Ferrari boasts is comparable with some of the top companies in the luxury sector.
The news of the strong annual results comes a day after the announcement that the Ferrari brand is the most powerful in the world, according to a study by a major British business-research group.
Ferrari also revealed that it has more than $1.3 billion in its coffers for further investment, which could help produce even better results in the coming year. In 2012, Ferrari’s investments in R&D were roughly one third this amount.
The United States was once again the biggest market for Ferrari, with sales in this country exceeding the 2,000-car mark for the first time. Total sales were 2,058 units, an increase of 14.6 percent.
Other key markets also experienced record sales levels. Sales in China, including Hong Kong and Taiwan, grew 4 percent to 784 cars, with just under 500 cars going to mainland China. Sales in Germany grew 8.2 percent to 750 cars, while sales in the UK grew 20.4 percent to 673 cars.
Japan, a long-established Ferrari market, made a significant return to double-figure growth, with 302 cars being delivered there, an increase of 14.4 percent. The Middle East and Africa bought up 556 Ferrari cars in 2012, a rise of 4.5 percent.
But there was a downside to Ferrari’s financial report. Results from Ferrari’s troubled home market of Italy couldn’t have been more different: Ferrari ended the year with just 318 cars delivered to dealerships in Italy, a 46 percent drop from 2011.
Not only is the country in an economic depression, cars from such luxury automakers as Ferrari, Maserati and Lamborghini are now triggers for hostile attention from Italy’s Guardia di Finanza tax police.
“We are all enormously proud of ending the year with these kinds of results despite the unfavorable economic backdrop in many European nations, and the distinctly hostile one in Italy,” Ferrari chairman Luca di Montezemolo said at yesterday’s financial results announcement. “The credit for this goes to the men and women in Ferrari, the strength of the brand, a very complete and highly innovative range, and our gradual expansion into automotive markets worldwide.”
This story originally appeared at Motor Authority.