Ferrari Predicts Record Profit This Year image

Ferrari Chairman Luca Cordero di Montezemolo said sales of the automaker’s supercars continue to increase.

“From the latest data I’ve seen, we are on track to make this year another record year,” said Montezemolo.

Although the other automakers have seen their sales affected by the European debt crisis, the slowdown in China’s economy and the rumors about a new recession in the US, Ferrari’s sales were up 7% in the January-June period, to 3,664 units. Last year the company set new records with 7,195 units sold and an operating profit of 321 million euro.

Sales of the V-12 models increased 66% in the first half of the year, which raised the company’s operating profit to 152 million euro, up 13%. Montezemolo said that the automaker has made a solid investment in manufacturing a new engine for its Fomula One team and that it expects record profits this year.

“The new F1 engine is a considerable burden for a company as small as Ferrari,” Montezemolo said.

From the 2014 season, the F1 racing will give up the current V-6 2.4-liter normally aspirated engines, for the 1.6-liter turbo V-6s. racing experts say that an automaker would have to invest 40-60 million euro to build a new F1 engine, and this would take about two years until completion.