Ferrari Announces Strong First Quarter Result, Reopens Order For $430,000 Purosangue SUV

Ferrari announces strong results for the first quarter 2023, reopens order for $430,000 Purosangue SUV.

Italian sportscar maker shipped 3,567 cars in the first quarter, up 316 units or 9.7% versus the prior year.

Increase in shipments driven by Portofino M, 296 GTB, 812 Competizione as well as the 296 GTS and the 812 Competizione.

Net revenues for Q1 2023 were Euro 1,429 million (+20.5%), while revenues from cars and spare parts were Euro 1,241 million (+23.2%).

Italian sportscar maker, Ferrari, on Thursday announced its consolidated preliminary results for the first quarter of 2023 – which ended March 31 – including a total shipment of 3,567 cars, up 316 units or 9.7% versus the prior year.

The increase in shipments during the quarter was driven by the Portofino M, the 296 GTB, the 812 Competizione as well as the 296 GTS and the 812 Competizione, the last two whose deliveries commended in the first quarter of 2023.

Net revenues for Q1 2023 were Euro 1,429 million (up 20.5%), while revenues from cars and spare parts were Euro 1,241 million (up 23.2%), thanks to contribution from personalizations and pricing.

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The Prancing Horse’s product portfolio in the quarter included nine internal combustion engine (ICE) models and four hybrid engine models, which represented 65% and 35% of total shipments, respectively.

The Italian luxury sportscar maker has also announced it was reopening orders for its 390,000 euro ($430,000) Purosangue SUV, whose order was earlier suspended due to initial “unprecedented” demand.

“Another exceptional quarter for Ferrari. Double-digit growth across the main parameters, with EBITDA margin at 37.6% reaching a new high and net profit up to Euro 297 million,” said Benedetto Vigna, Ferrari CEO.

“Our order book already extends into 2025 with an award-winning product portfolio. We have decided to reopen orders for the Purosangue, suspended due to an initial unprecedented demand, and launched the Roma Spider to further enrich our offer”.

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