Photo: Ferrari
Remember when Sergio Marchionne said that Ferrari is all about exclusivity? What about that tongue-in-cheek comment on people who buy Lamborghinis for the sole reason the waiting list for new Prancing Horses is too damn long? According to the company’s results for Q1 2017, it turns out Sergio was right.
In the first three months of the current year, the best name in the biz delivered 2,003 vehicles, with most of them shipped to EMEA countries. The Americas rank second with 545 cars, then comes China, Hong Kong, and Taiwan, which account for 161 units. In retrospect, Ferrari delivered 950 vehicles in Q1 2016. Hence, we’re talking about a 6 percent growth.
If this trend continues, the automaker will surely go over its self-imposed 7,000-unit production cap by the end of the year. Rules and guidelines are meant to be broken, though, and the most telling figure is 8,014. That’s how many cars the Prancing Horse delivered last year, up 4.6 percent from 2015.
If the remaining quarters of 2017 will be at least as good as Q1, then Ferrari is on to record another record year. Digging even deeper in the quarterly report, it’s utmost necessary to highlight the 36 percent jump in net profit. However, the most tell-tale indicator of how good business is at Ferrari isn’t net profit.
That would be adjusted EBITDA (earnings before interest, taxes, depreciation and amortization), which surged to 242 million euros from 178 million a year earlier. Let that figure sink in for a minute, and you’ll understand why Ferrari N.V. stock keeps on going up and everyone wants a piece of the action.
On the subject of cars, V12-powered models saw an increase in sales by 50 percent compared to January - March 2016. The V8-powered lineup, meanwhile, posted a 3 percent decrease. Care to guess which Ferrari model sold best in this period of time? It’s the GTC4Lusso, ladies and gents, a luxurious grand tourer with four seats, all-wheel-drive, 690 PS (681 horsepower) on tap, and a suggested retail price of more than $300k.
If this trend continues, the automaker will surely go over its self-imposed 7,000-unit production cap by the end of the year. Rules and guidelines are meant to be broken, though, and the most telling figure is 8,014. That’s how many cars the Prancing Horse delivered last year, up 4.6 percent from 2015.
If the remaining quarters of 2017 will be at least as good as Q1, then Ferrari is on to record another record year. Digging even deeper in the quarterly report, it’s utmost necessary to highlight the 36 percent jump in net profit. However, the most tell-tale indicator of how good business is at Ferrari isn’t net profit.
That would be adjusted EBITDA (earnings before interest, taxes, depreciation and amortization), which surged to 242 million euros from 178 million a year earlier. Let that figure sink in for a minute, and you’ll understand why Ferrari N.V. stock keeps on going up and everyone wants a piece of the action.
On the subject of cars, V12-powered models saw an increase in sales by 50 percent compared to January - March 2016. The V8-powered lineup, meanwhile, posted a 3 percent decrease. Care to guess which Ferrari model sold best in this period of time? It’s the GTC4Lusso, ladies and gents, a luxurious grand tourer with four seats, all-wheel-drive, 690 PS (681 horsepower) on tap, and a suggested retail price of more than $300k.
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