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Ferrari sees strong demand stretching into the distance
Published by Jessica Weisman-Pitts
Posted on November 2, 2023
3 min readLast updated: January 31, 2026
Global Banking & Finance Review®
Company
Published by Jessica Weisman-Pitts
Posted on November 2, 2023
3 min readLast updated: January 31, 2026
By Giulio Piovaccari and Keith Weir
MILAN (Reuters) -Ferrari’s order books are bulging all the way into 2025 when it plans to launch its first fully electric vehicle, the luxury sports car maker said on Thursday, as it raised its earnings forecast for this year.
Core profit in the third quarter beat estimates, driven by pricing power and the continuing appeal of personalised additions to its cars.
“The order book remains at highest levels reflecting strong demand across all geographies, covering the entire 2025,” Chief Executive Benedetto Vigna said.
Vigna told analysts all Ferrari models bar one were effectively sold out for the coming months.
His tone was markedly more bullish than German rival Porsche, which warned last week that the luxury sector was feeling the effects of consumer caution as interest rates rise.
Vigna confirmed that Ferrari, famous for its high performance petrol cars, was on track to launch its first fully electric vehicle in the last quarter of 2025.
The vehicle is currently in the prototype phase and the new “ebuilding” where it will be constructed at the company’s home in Maranello, northern Italy, is due to open next June.
Ferrari shares were up 5.2% at 1530 GMT and have gained almost 50% so far this year, according to LSEG data.
“With a new production facility, potential hypercar, and BEV (electric) model all expected to arrive within the next 24 months, investors see Ferrari as moving into another exciting phase of the company’s history,” Bernstein analysts said in a note.
HYBRIDS ON THE RISE
Deliveries in the quarter were driven by the 296 and the SF90 families, while the 812 Competizione A and the Purosangue four-seater were in ramp up phase. The F8 Spider was approaching the end of its lifecycle.
The product portfolio in the quarter included nine internal combustion engine models and four hybrid engine models. Hybrid deliveries reached 51.0% of total shipments in the quarter.
The company now expects its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) to reach at least 2.25 billion euros ($2.39 billion) this year, versus a previous – and already improved – forecast of 2.19-2.22 billion euros.
In the July-September period, Ferrari’s adjusted EBITDA climbed 37% to 595 million euros, topping analyst expectations of 560 million euros, according to a Reuters poll.
($1 = 0.9406 euros)
(Reporting by Giulio Piovaccari in Milan and Keith Weir in London Additional reporting by Nick Carey in London Editing by David Evans and Mark Potter)
EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. It is a financial metric used to evaluate a company's operating performance.
A fully electric vehicle is a type of vehicle that runs entirely on electricity, using electric motors powered by batteries, without any internal combustion engine.
Hybrid vehicles are cars that use two or more types of power, typically combining an internal combustion engine with an electric motor to improve fuel efficiency.
Pricing power refers to a company's ability to raise prices without losing customers, often due to strong brand loyalty or unique product offerings.
The automotive industry encompasses the design, development, manufacturing, marketing, and selling of motor vehicles, including cars, trucks, and motorcycles.
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