MILAN -- Ferrari said its core earnings rose 27 percent to 537 million euros ($594 million) in the first quarter as the automaker raises prices for its vehicles and starts deliveries of its Purosangue crossover-style model.
Ferrari unveiled the Purosangue in September. The high-riding, four-door car looks more like an SUV than the company’s traditional portfolio of low-slung, two-door sports cars.
Ferrari has decided to reopen orders for its new Purosangue, CEO Benedetto Vigna said. After unveiling the car last September, Ferrari stopped taking orders for the car two months later as high demand sent waiting lists for some customers to around two years.
"We were caught by positive surprise for these strong interest," Vigna told analysts on an earnings call on Thursday.
Deliveries of the 390,000-euro Purosangue are due to start in the current quarter.
Vigna said customers now ordering the 12-cylinder Purosangue will have to wait until 2026 to receive it. He confirmed Ferrari's pledge to keep Purosangue sales below 20 percent of total group shipments over the car's life-cycle and not to extend it, to retain a degree of exclusivity.