China has become the second largest global market for Ferraris with just the U.S. ahead of them.
China has become the second largest global market for Ferrari with only the U.S. ahead of them. The Italian automaker increased global sales by almost 12 percent to a record 3,577 units between the months of January and June, with sales revenue surging nearly 20 percent to $1.5 billion. Ferrari claimed deliveries to China, Taiwan and Hong Kong totaling 378 units in the first six months (the U.S. recorded 939 units), which is an increase of 116 percent from the same period last year.
Ferrari will participate in 25 motor shows in China this year, which is more than double the shows from last year according to Edwin Fenech, president and CEO of Ferrari China. He also said that the company's sales in China won't be affected by the nation's slower economic growth or Beijing's new car restrictions. Despite hard times and a fluctuating economy, it appears that nothing can stop China's growing appetite for Ferraris.