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Ferrari profits boom as road car sales soar
Luxury Italian sports carmaker Ferrari announced this week that profits soared 38 percent in its first year as a stand-alone company, thanks to higher volumes of the 488 mid-engine family that is key to the company's growth plans. Ferrari, based in the northern Italian city of Maranello, reported net profit of 400 million euros ($432 million), up from 290 million euros last year. Shipments last year rose 4.6 percent to 8,014 vehicles, while net revenues increased 9 percent to 3.1 billion euros. 'It's been a good year,' CEO Sergio Marchionne told an analyst conference call. 'We have been satisfied with the progress we have made' since spinning off the brand last January and going public....
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