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Ferrari profits up despite drop in revenue amid
Luxury sportscar maker and legendary Formula 1 racing team Ferrari on Tuesday reported its profits remained flat in the third quarter as it recovers lost production from the coronavirus shutdown. The company based in the northern Italian city of Maranello said net profit was 171-euros ($200-million) in the quarter, compared with 169-million in the same period last year. Shipments were down by 161 units, to 2,313 vehicles. Ferrari said it is still working on recovering the 2,000 vehicle production loss during Italy´s seven-week shutdown. Revenues sank by 3% to 888-million, from 915-million in the same period last year. Car revenues rose on sales of the Ferrari Monza SP1 and SP2 special...
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4y ago from GrandPrix247.com
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