Ferrari reports record profits as supercar sales boom

Italian luxury carmaker enjoys strong sales in second quarter despite global economic concerns

Ferrari has reported record quarterly sales and profits as the cost of living crisis and concerns over the global economy fail to dent the enthusiasm for buyers of luxury trophy vehicles.

The Italian sports carmaker raised its forecast for full-year revenues and profits after reporting a record second quarter, off the back of the popularity of new models and strong demand in China and the Americas.