Ferrari has released the financial data for the third quarter of 2023. During the period from July to September, the Maranello-based automaker achieved outstanding results, recording the sale of 3,459 cars, an increase of 271 units compared to the previous year, thus establishing a new record.
The sales performance for this quarter was primarily driven by the Ferrari 296 and SF90 models, while the F8 Spider is nearing the end of its product cycle. Furthermore, during the period under review, deliveries of the 812 Competizione A and Purosangue models increased. Ferrari reported that thirteen models were delivered in the last quarter, nine of which were equipped with internal combustion engines and four with hybrid powertrains. These hybrid models contributed to 51% of the total deliveries for the quarter.
It’s been a record-breaking quarter for Ferrari with increased sales and profits
Net revenues reached the figure of 1.54 billion euros, representing a significant increase of 23.5%. In particular, revenues from car sales and spare parts contributed 1.33 billion euros, showing a growth of 26.5%. The revenue contribution from sponsorships and commercial activities amounted to 145 million euros, marking a 13.8% increase, thanks to new sponsorship agreements and the success achieved by the Scuderia Ferrari in Formula 1 the previous year. On the other hand, revenues from engine distribution amounted to 28 million euros, with a 33% decline due to the decrease in deliveries to Maserati, whose contract is set to expire in 2023.
Net income experienced a significant growth of 46%, reaching a total of 332 million euros. In light of these extraordinary results, Ferrari has raised its forecasts for the entire year 2023. CEO Benedetto Vigna commented: “We have closed another quarter with exceptional results, with profit growth driven by an even more diversified product range and the ongoing demand for customizations, leading us to revise our full-year forecasts upwards. Our order book remains at record levels thanks to strong demand from all geographical regions and extends until 2025. The uniqueness of our brand, which continues to be a pillar of success, is the source of inspiration for everything we do, from the launch of new models, such as the recent 296 Challenge and 499P Modificata, to the exclusive experiences offered to our customers, such as the recent Ferrari Gala in New York and the World Finals at the Mugello circuit.”