Ferrari’s financials are looking particularly rosy after a very fruitful second quarter that included solid total shipments and an increased focus on vehicle personalizations.
The Italian car manufacturer shipped a total of 3,392 new vehicles in the second quarter of this year. While this is a small 2% drop from the 3,455 units delivered in Q2 2022, it is in line with plans for relatively flat delivery numbers this year. Through the first six months of 2023, Ferrari has shipped 6,959 vehicles, a 4% increase from H1 2022 where it delivered 6,706 units.
Sales were particularly strong across the Europe, Middle East, and Africa (EMEA) region totaling 1,638 shipments compared to the 1,397 in Q2 2022. Interestingly, sales in the Americas dropped 17% from 1,053 to 869 and 16% in the ‘Rest of APAC’ (Japan, Australia, Singapore, Indonesia, South Korea, Thailand, India, and Malaysia) from 647 units to 546 units. Ferrari says deliveries have been driven by the 296 GTB, Roma, and Portofino M while noting that the 296 GTS and 812 Competizione A remained in the ramp-up phase through the second quarter. The first deliveries of the Purosangue also started in Q2.
The company’s net revenues have jumped 14.1% in Q2 to a cool €1.47 billion ($1.6 billion) and now total €2.9 billion ($3.1 billion) through the first six months of the year, a 17% jump from H1 2022. Ferrari says this was thanks to a richer product mix and included an increased contribution from personalizations and pricing.
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“The second quarter ended with exceptional financial results, highlighting strong margins,” Ferrari chief executive Benedetto Vigna said. “Deliveries reflected a rich product mix, while we continue to manage a very strong order book in all geographies. The decision to revise the guidance upwards was supported in particular by stunning results in personalizations. Innovation is at the heart of Ferrari and continues to drive our growth and achievements, such as the unforgettable victory at Le Mans”.
While speaking with Reuters, Vigna added that the Purosangue will continue to make up just 10% of production through the rest of the year and that orders for it are still being accepted. He also revealed that the brand’s first all-electric model will debut in the last quarter of 2025.
