Car industry Luxury car manufacturer Ferrari feels the effects of China's weakness

Even the luxury sports car manufacturer Ferrari is not immune to the slump in the important Chinese car market. The Italians delivered a total of 3383 cars in the third quarter, around 2 percent fewer than a year earlier.

This was announced by the company in Maranello on Tuesday.

Although China, Hong Kong and Taiwan are the smallest of Ferrari's regions, the drop of almost 30 percent could not be offset by rising sales in Europe and the rest of Asia. Ferrari also sold slightly less in America.

Because Ferrari can continue to demand high prices and the optional extras also bring in a lot of money, turnover rose by 7 percent to 1.64 billion euros in the third quarter. Earnings before interest, taxes, depreciation and amortization also grew by 7 percent to 638 million euros. At 375 million euros, the profit below the line was 13 percent higher than a year earlier.

In general, suppliers of luxury and premium goods are currently struggling in China. Wealthy customers in the People's Republic are reluctant to spend due to the real estate crisis in the country.

SDA