Despite challenging economic conditions in Europe, Ferrari has reported both record revenues and record unit sales, thanks to strong growth in China, the U.S., Germany and Great Britain. Ferrari recorded revenues of 2.251 billion euros ($2.96 billion), an increase of 17.3 percent over 2010.

More significantly, its 2011 performance marks the first time the automaker has exceeded 2 billion euros ($2.63 billion) in revenue. The automaker’s return on sales, which is net profit divided by sales revenue, came in at 14.1 percent, among the highest in the automotive industry. Net profit was up over 2010 as well, rising to 209 million euros (approximately $275 million).

Worldwide, Ferrari sold a total of 7,195 cars last year, including a record high of 1,958 vehicles in the United States. While the U.S. is still the Italian automaker’s largest market, the greater China market posted growth of nearly 63 percent, with deliveries totaling 777 units.

German sales were up by 14.6 percent, rising to 705 units, while Ferrari sales in Great Britain totaled 574 units, an increase of 23 percent. Even sales at Ferrari’s online store grew by 25 percent, while Ferrari’s website traffic grew by 30 percent. Not to be outdone, the Ferrari Museum in Maranello booked a record of over 240,000 visitors, with 60 percent coming from outside of Italy.

Look for Ferrari to launch a new 12-cylinder model to replace the 599 at next month’s Geneva Auto Show. Per chairman Luca di Montezemolo, the new car will deliver “extreme performance,” thanks to “unprecedented power output.”

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This article originally appeared on Motor Authority.