In fact, third-quarter earnings demonstrated how fast Ferrari's business is still growing, with a 1.5% upswing in total shipments and volume growth of 15% in a surprising market: greater China.
As a result of this global expansion, Ferrari had earnings growth of more than 20%, pushing the luxury automaker's stock near one-year highs.
Interestingly, these moves by the Italian automobile company lie in sharp contrast to what is happening with other prominent brands: Ford Motor (down 18.52% this year), General Motors (down 6.7%) and even Japan's Honda Motor (down nearly 11%).
Ferrari also pulled off a blowout third quarter.
The company's adjusted earnings before interest and taxes rose nearly 23%, to 172 million euros ($187 million). Adjusted EBIT margin, up 260 basis points, and Ferrari's industrial free cash flow, up a stunning 93.5% year over year, showed that these gains weren't superficial.
Asia outside of greater China, however, remains a difficult terrain, according to some reports.
Yet Ferrari has consolidated its gains.
Since being spun off from Fiat Chrysler Automobiles at the start of the year, Ferrari has endeavored to enhance its profits by offering vehicles with a more universal appeal, rather than focusing only on expensive and limited-run models.
The excitement around the cheaper turbo V8-powered variety, called GTC4Lusso T, is projected to become a solid revenue driver, boosting sales volumes and making Ferrari's appeal more broad-based.