Ferrari’s outlook takes hit from coronavirus, but orders still strong

Ferrari’s outlook takes hit from coronavirus, but orders still strong

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Ferrari trimmed its full-year earnings forecast on Monday after second-quarter income fell 60% due to the impact of the coronavirus pandemic, but said orders were “very strong,” sending the luxury carmaker’s shares up nearly 4%. Chief Executive Louis Camilleri told analysts that last quarter’s order book was up double digits (percentage) in absolute terms, versus the same period of last year. “Demands remains vibrant and our order book is up significantly,” Camilleri said.

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Ferrari’s outlook takes hit from coronavirus, but orders still strong originally appeared on Autoblog on Mon, 3 Aug 2020 19:35:00 EDT. Please see our terms for use of feeds.

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