The luxury carmaker has escaped much of the pressure that’s beset auto industry, where manufacturers are struggling with declining markets and electric-vehicle investments that dent profits. Supplying cars to the world’s wealthiest people, Ferrari trades with a valuation on par with luxury retailers like Prada SpA, and its 14% jump in first-quarter profit beat the highest estimate.
Camilleri aims to generate 2 billion euros in adjusted earnings before interest, tax, depreciation and amortization no later than 2022. To get there, Ferrari is planning more profit-boosting limited-edition sports cars and will unveil a record five new models in the coming months.
This article was provided by Bloomberg News.