Ferrari looks back on a 2020 in which the corona pandemic clearly had consequences, but remains positive.
In a presentation to shareholders, temporary Ferrari CEO John Elkann announced that ‘his’ brand sold 9,119 cars in 2020. That is 10 percent less than last year, but that was also to be expected given the corona ailments. Moreover, with more than 10,000 units, 2019 was an absolute record year and therefore difficult to beat. Moreover, the decline came as no surprise, but was already announced in August.
Still, the financial consequences are substantial. Ferrari records a turnover of 3.46 billion euros, 8.1 percent less than in 2019. EBIT, or the operating profit before interest and taxes, was 21.6 percent lower at 716 million.
At the same time, Ferrari looks back on a year in which no fewer than three new model variants were launched: the Portofino M, the SF90 Spider and racer 488 GT Modificata.
Electric in 2025
Three more new model variants will be added to the news list in the coming months, in line with Ferrari’s great ambitions in this area. The iconic brand also opens a book about the more distant future. For example, it is announced that the first electric Ferrari should appear in 2025, after it was already clear that the first Ferrari EV will not appear before that year. The brand does not say a word about an SUV, which, however, is demonstrably in the pipeline.
There is also a lot of news in the field of motorsport, traditionally perhaps the most important thing for Ferrari. For example, the brand wants to return in 2023 in the 24 hours of Le mans. Finally, new ways of cashing in on the strong Ferrari brand name are being worked on, for example with luxury ‘merchandise’ and the reopening of a real restaurant in Maranello.
New CEO
Elkann took office as interim CEO in December 2020 after Louis Camilleri stepped down. According to Ferrari, a more definitive successor is being worked on and there is now a ‘shortlist of strong candidates’.