Planning to buy a new Ferrari? You will have to be patient
The supercar maker has sold almost all its models for this year and into next — except for the GTC4 Lusso family car
Milan — Ferrari’s profit exceeded expectations as the Italian supercar manufacturer sold out most of its models for 2018 and some of next year. CEO Sergio Marchionne said the Italian company’s production was almost at full capacity for this year and part of 2019. Only the GTC4 Lusso family car was still available, he said. "Everything else is pretty well gone." Ferrari shares advanced as much as 6.6% to a record €112.25 in Milan on Friday, giving the company a market value of €20.7bn. The Maranello, Italy-based company, spun out of Fiat Chrysler Automobiles, last week reported adjusted earnings before interest, taxes, depreciation and amortisation jumped 13% to €272m in the first quarter. That beat the €262m average of eight analysts surveyed by Bloomberg. Marchionne, who has also led Fiat for the past 14 years, is working on his final business plan for the race-car maker before he retires. The five-year strategy will be presented in September. It will include details for the Italia...
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