High-end automotive company Ferrari has reported revenues of more than €1.4 billion for the first quarter of 2023, an increase of 20.5% year on year, reports Leatherbiz.

In the course of the three-month period, Ferrari registered 3,567 new orders, 10% up on the same period last year.

Orders from customers in Europe fell by 12% to 1,534 units, but Europe was still the company’s largest market.

Growth came, largely, because orders from customers in the Americas increased by 46% to reach 962 units, and by 39% in China to reach 396 units.