Ferrari profit jumps as more cars ship

Win on Sunday, sell on Monday is working for Ferrari

Ferrari RACE Tuesday said profit jumped by almost a third in the second quarter as the Italian luxury sports-car manufacturer sold more vehicles and paid a lower tax rate.

The financial results are the first to be released since Chief Executive Sergio Marchionne took over in May. Mr. Marchionne didn't bring a strategic revolution in the past three months as he was already Ferrari chairman as well as CEO of former Ferrari owner Fiat Chrysler Automobiles NV, but by taking the reins he highlighted his commitment to seeing Ferrari through a steady increase in production.

Mr. Marchionne shook up Ferrari's longstanding strategy of capping production at about 7,000 a year when in 2014 he first hinted of his desire to push unit sales higher. Volume has been creeping up ever since, something Mr. Marchionne has managed without damaging Ferrari's exclusivity appeal. The company often keeps buyers on a waiting list for about a year before they get their cars.

Ferrari Tuesday confirmed plans to boost shipments this year to about 8,000 as it works its way toward a goal of 9,000 in 2019. Shipments in the second quarter rose 8% from a year earlier to 2,214, pushing the first-half figure to 4,096.