Ferrari raised guidance after its third-quarter profit surged 46% year over year. Its customers continue to load up their new Ferraris with expensive options.
Ferrari on Thursday said that its third-quarter profit jumped 46% from a year ago.Ferrari in recent years has greatly extended its options lists, offering its customers a huge range of choices in paint finishes, interior materials and other details, which it calls"personalizations."profit jumped 46% from a year ago as its wealthy customers continued to choose expensive"personalization" options for their new cars.Ferrari now expects 2023 revenue of about 5.
"The order book remains at highest levels reflecting strong demand across all geographies, covering the entire 2025," Vigna said. Ferrari in recent years has greatly extended its options lists, offering its customers a huge range of choices in paint finishes, interior materials and other details, which it calls"personalizations." Those extended options can add hundreds of thousands of dollars to the price of a new Ferrari, considerably increasing the company's profit per car sold.Ferrari reported a net profit of 332 million euros, or 1.
Ferrari shipped 3,459 vehicles in the third quarter, up 9% from a year ago. The company said that the increase was simply a function of its"geographic and product allocation plans by quarter" and emphasized that its order book remains very strong. On a year-over-year basis, deliveries were up in Europe and North and South America, lower in China, and roughly flat in the rest of the Asia-Pacific region.A Ferrari NV SF90 hybrid vehicle on the opening day of the Paris Motor Show in Paris, France, on Monday, Oct. 17, 2022.Ferrari also noted that its four hybrid models – coupe and convertible versions of the six-cylinder 296 and eight-cylinder SF90 sports cars – accounted for 51% of its total shipments during the period.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ferrari again raises guidance as customers opt for high-priced, personalized sports carsFerrari raised guidance after its third-quarter profit surged 46% year over year. Its customers continue to load up their new Ferraris with expensive options.
Read more »
Elgin News Digest: U-46 to replace playgrounds at 5 elementary schools; Dundee seeking volunteers for mental health board; Randall Oaks Zoo holding ‘Dinovember’ scavenger huntRoundup of small news items for the Elgin area.
Read more »
Adam Driver to Accept Camerimage Actor Award and Present 'Ferrari''Ferrari' star Adam Driver will attend Camerimage to present the film and accept the Actor Award
Read more »
The best cars from Ferrari Finali Mondiali 2023We pick the fastest, loudest, most beautiful and downright outrageous cars from Ferrari’s celebration of motorsport
Read more »
Ferrari has no current plans to move registered office from the NetherlandsFerrari has no current plans to move registered office from the Netherlands
Read more »
Michael Mann reportedly has eyes on a project after Heat 2Mann's most recent film Ferrari premieres December 25
Read more »