Ferrari shares rocketed as the Italian car maker posted profits of more than £1billion for the first time and signed Lewis Hamilton.
Profits rose 34 per cent to almost £1.1billion last year as rich customers forked out on bespoke features. Total car sales rose 3.3 per cent to 13,663.
And seven-time Formula One champion Hamilton will join from Mercedes for the 2025 season.
The shares rose 9.2 per cent to an all-time high as boss Benedetto Vigna cheered a ‘very successful year’.
Ferrari’s new Purosangue four-seater proved especially popular, its price starting from £313,000.
On track: Ferrari’s profits rose 34% to almost £1.1bn last year as rich customers forked out on bespoke features. Total car sales rose 3.3% to 13,663
Production levels of a model that has been billed as Ferrari’s most comfortable vehicle so far are set to increase.
The car maker said it had a strong order book for the year ahead, despite fears of a slowdown in the luxury sector.
Porsche has said high borrowing costs are beginning to bite even the wealthy while Bentley has warned a boom in pricey cars may be over.
But record 2023 results meant Ferrari could look towards the next two years with ‘stronger confidence,’ Vigna said.
Future plans include the release of its first fully-electric car in late 2025.
