While the auto industry is largely burdened by the global chip shortage and other supply disruptions, Ferrari is doing well. The Italians expect to close this year with a record sales.
Ferrari says it is having a record year. Thanks to the high number of new orders in the past quarter, it is raising its expectations for the full year. Ferrari also delivered more cars in the months of July to September. In that third quarter, sales for the car brand amounted to just under €1.1 billion, almost a fifth more than a year earlier. The number of cars delivered by Ferrari was 2,750 compared to 2,313 a year earlier. Net profit rose 21 percent to €207 million.
On every car Ferrari sells, it makes an average gross profit of more than 35 percent. That high margin has allowed Ferrari to boost projected gross profit to just above €1.5 billion for the full year. Under the new CEO Benedetto Vigna, Ferrari is cautiously continuing its strategy of more hybrid cars. The second hybrid in the current range, the 296 GTB, was unveiled this summer. Ferrari will also come next year with its first SUV, the Purosangue, well after competitors such as Porsche, Bentley and Lamborghini. That will undoubtedly give sales an extra push.
Ferrari is also prospering in the Netherlands. It’s already been a record year here, with two months to go. Incidentally, there are several exclusive brands that are doing quite well, despite the crises affecting the car industry.
– Thanks for information from Autoweek.nl