Ferrari is brimming with confidence for the coming year and isn’t worried about ongoing economic concerns.
While presenting the company’s third-quarter results to analysts, Ferrari chief executive Benedetto Vigna noted that while current financial circumstances was bringing “new challenges on a global scale,” for the Italian car manufacturer and its suppliers a strong order book bodes well for the future.
Speaking with Reuters, Vigna said that orders for the Purosangue had outstripped its most ambitious expectations.
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“We are also very positive for the next year,” Vigna said. “This is thanks to the order book that we have, that is spanning all the products we have as well as all the regions. With the exception of a few models, our entire range is sold out.”
Ferrari reported third-quarter adjusted core earnings of €435 million ($427 million), an increase of 17 per cent. Furthermore, shipments jumped in all regions except in EMEA throughout the third quarter, thanks in part to deliveries of the 296 GTB and the limited-run 812 Competizione.
On the back of a successful third quarter, Ferrari expects its adjusted earnings before interest, tax, depreciation and amortization to grow to over €1.73 billion ($1.7 billion) this year compared with a previous estimate of between €1.7 billion ($1.67 billion) and €1.73 billion ($1.7 billion).
Ferrari shows no signs of slowing down its planned launches of exciting new models. In late October, reports surfaced suggesting that the hypercar successor to the LaFerrari will be unveiled in October 2024. While technical specifications about the car are not yet known, the car is tipped to feature technology transferred from its Formula 1 and Le Mans Hypercar programs.
