Presenting an opportune moment for selling high-performance, galloping stallions as renowned luxury car manufacturer Ferrari recorded its most successful year financially, notwithstanding the absence of a sports utility vehicle (SUV) in its product lineup, unlike other competitors such as Bentley and Lamborghini. According to Ferrari’s 2022 financial report, the esteemed supercar company delivered 13,221 vehicles, amassing a net profit just above $1 billion (939 million Euros).
In comparison to the previous year, this marked an 18.5% surge in units sold and a 19.3% increase in net earnings, reaching approximately $5.5 billion. Consequently, Ferrari’s CEO Benedetto Vigna foresees an “even more robust 2023, driven by a sustained high demand for our offerings globally.” Vigna’s confidence in this assertion is bolstered by the upcoming launch of the Purosangue SUV in 2023, a groundbreaking high-riding four-door Ferrari model poised to propel the brand’s sales to unprecedented heights.
Despite lacking a revenue-generating SUV in its product range, Ferrari’s exceptional 2022 performance was propelled by surging sales in China and to a lesser extent, the Americas. Sales in mainland China, Hong Kong, and Taiwan soared by an astounding 73% from 2021 to 1,552 units, while Ferrari’s customer base in North, Central, and South America expanded by 22% to 3,447 vehicles. Notably, Europe remains Ferrari’s predominant market with 5,958 cars sold in 2022.
Regarding sales by model, the demand was reportedly driven by the entry-level Portofino M and the SF90 hybrid. Traditional internal combustion engine vehicles still constitute the majority of Ferrari’s sales—precisely 78%—but hybrid and electric models are anticipated to progressively capture a larger share in the future.
If only Ferrari could translate some of its showroom prosperity onto the race track.
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