Ferrari drives to its best-ever year

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The Independent Online

Luxury carmaker Ferrari has declared that 2012 was the best year in its 66-year history.

On virtually every measure, the iconic car marque, which is owned by Fiat, beat its previous best year of 2008 despite the fact that economic conditions in most parts of the world were vastly worse last year.

Ferrari said that post-tax profits jumped by 18 per cent last year despite dire sales in its home country, Italy, where sales were badly hit by the eurozone crisis.

Revenues globally increased by 8 per cent to €2.4bn (£2bn) while the number of cars sold increased by 4.5 per cent to 7,318.

"We are all enormously proud of ending the year with these kinds of results despite the unfavourable economic backdrop in many European nations, and the distinctly hostile one in Italy," declared chairman Luca di Montezemolo.

"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," he said.

Sales in Britain rose by a staggering 20 per cent to 673 while in the US sales were up 15 per cent at 2,058 vehicles. China, Hong Kong and Taiwan made up the second largest market with sales up 4 per cent at 784 cars. However, sales in Italy fell 46 per cent to just 318 cars.