Ferrari unveiled a remarkable surge in profits last quarter, a testament to the brand’s strategic decision to raise prices. This move, executed by the iconic Italian sports car manufacturer, reflects not just their luxury status but also the growing desire for their elite vehicles among enthusiasts and collectors alike.

More buyers also opted for expensive customization options for their cars, which come with high profit margins. Furthermore, Ferrari sold more of its more expensive, exclusive sports cars.

Third-quarter revenue rose 7.4 percent to €1.77 billion, despite higher US import tariffs and weaker sales in China. Operating profit rose 5 percent to €670 million, Ferrari announced Tuesday. The results exceeded market analysts’ expectations.

The Italian brand has significantly increased the prices of some cars in the United States to offset the impact of new import tariffs imposed by President Donald Trump. Market experts have previously indicated that affluent American customers are undeterred.

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