Ferrari reports record profits in 2013February 19, 2014 - 15:11 AMT PanARMENIAN.Net - Italian supercar and Formula 1 racing firm Ferrari has reported record profits in 2013, despite selling fewer cars than the year before, according to BBC News. The company made net profits of 264mln euros ($363mln), up 5.4% on 2012. That was despite the number of cars delivered to dealerships falling by about 5% over the year to 6,922. Ferrari said it had decided to reduce the number of cars sold, to maintain the brand's luxury status and increase the cars' value. As a result, the firm says, revenues rose by 5% over the year to a record 2.3bn euros. "We wanted to maintain a high level of exclusivity, designing amazing products such as the LaFerrari, the 458 Speciale and the just launched California T," said Ferrari's president, Luca di Montezemolo. The company said the UK had now overtaken Germany to become its strongest market in Europe, with 677 sales over the year. However, sales in Italy fell again, to just 205 orders. Ferrari says its home country is now a "marginal market for the luxury car sector", representing less than 3% of the company's global sales. The US remains Ferrari's biggest market, with more than 2,000 deliveries last year - an increase of about 9% on the previous 12 months. Related links: Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | About 173 million drams and more than 30 beneficiary funds. "The Power of One Dram" is 4 years old In June 2020, the exclusive joint corporate social responsibility initiative of Idram and IDBank "The Power of One Dram" was launched. Aliyev travels to Turkey at Erdogan's invitation On June 10, Azerbaijani President of Azerbaijan Ilham Aliyev will leave for Turkey on a working visit. CSTO budget “to be adjusted due to Yerevan’s non-payment of contributions” The CSTO budget for the current year requires adjustments due to the refusal of Yerevan to pay their share of contributions. Russia sends note of protest to Armenia over envoy’s trip to Ukraine’s Bucha Russia has sent a note of protest to Armenia over the visit of Vladimir Karapetyan and Tigran Ter-Margaryan to Bucha. |