Ferrari Reports Record Quarterly Sales And Profits

Italian sports car brand Ferrari reports record profits as supercar sales boom in China and the Americas.

In the second quarter, Ferrari delivered a total of 3,455 vehicles worldwide, an increase of 29% compared to last year.

Record sales helped by strong demand for V8-powered Portofino M convertible and F8 mid-engine sports car.

Strong demand for new models fuelled a 22% rise in net profit to €251m (£210m), while revenues climbed by a quarter to €1.3bn.

During the same period, turnover jumped by 24.5% to €1.29 billion euros while the net profit up by 22% to €238 million.

Ferrari on Tuesday August 2 reported a record quarterly sales and profit, becoming the latest luxury supercar manufacturer to post record profits after Audi Group brands, Lamborghini and Bentley, announced a new first-half record sales.

In the second quarter, Ferrari delivered a total of 3,455 vehicles worldwide, an increase of 29% compared to last year, thanks to strong demand for its V8-powered Portofino M convertible and F8 mid-engine sports car.

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Ferrari said traditional internal combustion engine vehicles accounted for 83% of the total deliveries, while hybrid models represented just 17% of shipments.

The strong demand for new Ferrari models in China, Taiwan, Hong Kong and the Americas (+62%) fuelled a 22% rise in net profit to €251m, while revenues climbed by a quarter to €1.3bn. During the same period, turnover jumped by 24.5% to 1.29 billion euros while the net profit up by 22% to 238 million euros .

The Italian brand moved to raise its full-year revenue guidance from €4.8 billion to €4.9 billion, and profits from a range of €1.15bn to €1.18bn, compared with a previous forecast of €1.1bn to €1.15bn.

“The quality of the first six months and the robustness of our business allows us to revise upward the 2022 guidance on all metrics,” said, Ferrari Chief Executive, Benedetto Vigna.

Ferrari’s total sale in 2022 may cross the record 11,155 (+22.3%) sports cars it delivered in 2021 as it plans to launch its first ever SUV, the Purosangue crossover in September.

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