Ferrari earnings up 22% on surging deliveries to Americas

MILAN (AP) — Luxury Italian automaker Ferrari is raising its forecast for the year after reporting a 22% increase in second-quarter earnings as sales in the Americas surged. The maker of high-performance luxury sports cars on Tuesday reported net profits of 251 million euros in April through June, up from 206 million euros in the same period of 2021. Revenue is up by a quarter, to 1.29 billion euros. Shipments in the period rose by 29%, to 3,455 vehicles, driven by the Americas, where sales more than doubled. Traditional internal combustion engines dominated deliveries, while three hybrid engine models accounted for just 17% of sales.