Ferrari delivered 1,389 cars in the second quarter, down 48 percent from the same period last year. Net profit fell by 95 percent to € 9 million, the Italian manufacturer announced on Monday. Ferrari is therefore adjusting its profit forecast for 2020 downwards.
In addition to sales and profit, turnover also declined. Ferrari recorded € 571 million in the second quarter, a decline of 42 percent. In the first half year, sales of the Italian brand decreased by 22 percent to € 1.5 billion. For the full year, Ferrari now expects a turnover of € 3.4 billion, while in May it was still at € 3.6 billion. The brand expects an operating profit of up to € 1.125 billion in 2020, instead of the previously estimated € 1.20 billion.
The sales decline in the past quarter was strongest in China, Hong Kong and Taiwan, where deliveries were 91 percent less with a total of 25 vehicles. In the Americas, sales fell by 53 percent in the second quarter of 381 units.
Measured over the first six months of this year, worldwide sales amount to 4,127 Ferraris, a decline of 22 percent. The relatively limited fall in sales was mainly due to more or less equal sales elsewhere in Asia. In that part of the world, 712 new cars were delivered in the past six months, a decrease of only 3 percent. In Europe, the Middle East and Africa, Ferrari’s main sales area, the contraction with 2,222 units was limited to 8 percent.