Stock prices are up, gas prices are tame, so why not buy an expensive Ferrari (RACE) with the biggest possible engine.
At least that's what well-heeled Ferrari shoppers did in the first quarter of this year, as the supercar maker said Thursday that sales of V12 models surged 50 percent from the prior year. Top-selling cars with these power-plants included the GTC4Lusso, LaFerrari Aperta and the F12tdf.
Ferrari's with seemingly wimpy V8 engines fell 3 percent. Total shipments rose 6.4 percent to 2,003 units.
Sales in Europe increased by 9 percent, fueled by double-digit sales in Germany, France, Italy and Britain. Deliveries rose 4 percent each in the Americas and the Asian Pacific, which excludes greater China, where sales improved 3 percent.
Total sales came in at Euro 821 million, trouncing estimates for Euro 763.6 million. Operating profits tallied Euro 124 million, ahead of estimates for Euro 101 million.
Shares rose as much as 3.4 percent to $78.68 in pre-market trading, with investment bank Jefferies calling the quarter "impressive."
