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Ferrari and Lamborghini, two high-end automakers, have recorded record sales in recent months.
The luxury automotive sector is not weakening and the two Italian manufacturers Ferrari and Lamborghini are a perfect example. They have both posted record sales over the past six months and are looking forward to the future.
Ferrari: a crazy growth that normalizes
The Italian luxury car manufacturer has slightly revised its financial targets upwards, after posting “exceptional” results in the second quarter.
Adjusted net income increased by 33% to €334 million. This result is slightly higher than Factset analysts’ forecast of 307 million euros.
However, deliveries fell by 2%. The Prancing Horse brand sold more than 3,390 vehicles worldwide between April and June, according to a Ferrari statement.
“The second quarter ended with exceptional financial results, marked by high margins“, which enabled the group to raise its targets for 2023, commented the group’s CEO, Benedetto Vigna.
For the full year, Ferrari is aiming for a turnover of 5.8 billion euros, compared to 5.7 billion previously. EBITDA is expected to reach between 2.1 and 2.2 billion euros. The results were welcomed at the Milan Stock Exchange, where the stock rose by just half a point in the afternoon.
Ferrari’s revenue rose 14.1% to 1.47 billion euros in the second quarter. The Europe-Middle East-Africa (EMEA) region remained its main market, with 1,638 vehicles delivered, an increase of 17.3%. Conversely, deliveries fell by 17.5% in the Americas and by 5% in the China-Hong Kong-Taiwan region.
The automotive group’s revenues from the sale of cars and parts grew by 15% to 1.2 billion euros. In addition, sponsorship and brand revenues jumped 20% to 147 million euros, notably thanks to the launch of Formula 1.
Profits from engine sales fell 33% to 27 million, due to lower deliveries to the Italian manufacturer Maserati.
According to a strategic plan presented in June 2022 at the group’s headquarters in Maranello, Ferrari expects a turnover of around 7 billion euros by 2026.
Lamborghini continues its impressive momentum
Lamborghini continues its rise. In the first six months of the year, the brand achieved record results in terms of sales, turnover and profitability.
An excellent first quarter 2023 that the manufacturer owes in particular to its Urus and Huracan models, which sold until the end of production, while playing a decisive role in reaching the milestone of 5,340 vehicles delivered worldwide.
The debut of the new hybrid model called Revuelto started very well, with orders covering more than two years of production.
Overall, the US leads with 1,625 cars delivered, followed by the UK (514 vehicles delivered), Germany (511), mainland China, Hong Kong and Macao (450), Japan (280) and Italy (270).
“We have achieved another record semester for our company and we are very proud to report the results,” said Stephan Winkelmann, CEO of Automobili Lamborghini. “We are really excited by these numbers, delivered with only two models in the range, in a year that we can define as special for Lamborghini. In addition to marking the company’s 60th anniversary, 2023 saw the launch of the Revuelto, the first plug-in hybrid in our history“.
Lamborghini continues to soar, as in the first months of the year. Indeed, the Sant’Agata Bolognese company delivered more than 2,600 vehicles between January and March, surpassing a record that had never been reached before.
Read also >Lamborghini and Ferrari : record performance in first quarter 2023
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Ferrari and Lamborghini, two high-end automakers, have recorded record sales in recent months.
The luxury automotive sector is not weakening and the two Italian manufacturers Ferrari and Lamborghini are a perfect example. They have both posted record sales over the past six months and are looking forward to the future.
Ferrari: a crazy growth that normalizes
The Italian luxury car manufacturer has slightly revised its financial targets upwards, after posting “exceptional” results in the second quarter.
Adjusted net income increased by 33% to €334 million. This result is slightly higher than Factset analysts’ forecast of 307 million euros.
However, deliveries fell by 2%. The Prancing Horse brand sold more than 3,390 vehicles worldwide between April and June, according to a Ferrari statement.
“The second quarter ended with exceptional financial results, marked by high margins“, which enabled the group to raise its targets for 2023, commented the group’s CEO, Benedetto Vigna.
For the full year, Ferrari is aiming for a turnover of 5.8 billion euros, compared to 5.7 billion previously. EBITDA is expected to reach between 2.1 and 2.2 billion euros. The results were welcomed at the Milan Stock Exchange, where the stock rose by just half a point in the afternoon.
Ferrari’s revenue rose 14.1% to 1.47 billion euros in the second quarter. The Europe-Middle East-Africa (EMEA) region remained its main market, with 1,638 vehicles delivered, an increase of 17.3%. Conversely, deliveries fell by 17.5% in the Americas and by 5% in the China-Hong Kong-Taiwan region.
The automotive group’s revenues from the sale of cars and parts grew by 15% to 1.2 billion euros. In addition, sponsorship and brand revenues jumped 20% to 147 million euros, notably thanks to the launch of Formula 1.
Profits from engine sales fell 33% to 27 million, due to lower deliveries to the Italian manufacturer Maserati.
According to a strategic plan presented in June 2022 at the group’s headquarters in Maranello, Ferrari expects a turnover of around 7 billion euros by 2026.
Lamborghini continues its impressive momentum
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Ferrari and Lamborghini, two high-end automakers, have recorded record sales in recent months.
The luxury automotive sector is not weakening and the two Italian manufacturers Ferrari and Lamborghini are a perfect example. They have both posted record sales over the past six months and are looking forward to the future.
Ferrari: a crazy growth that normalizes
The Italian luxury car manufacturer has slightly revised its financial targets upwards, after posting “exceptional” results in the second quarter.
Adjusted net income increased by 33% to €334 million. This result is slightly higher than Factset analysts’ forecast of 307 million euros.
However, deliveries fell by 2%. The Prancing Horse brand sold more than 3,390 vehicles worldwide between April and June, according to a Ferrari statement.
“The second quarter ended with exceptional financial results, marked by high margins“, which enabled the group to raise its targets for 2023, commented the group’s CEO, Benedetto Vigna.
For the full year, Ferrari is aiming for a turnover of 5.8 billion euros, compared to 5.7 billion previously. EBITDA is expected to reach between 2.1 and 2.2 billion euros. The results were welcomed at the Milan Stock Exchange, where the stock rose by just half a point in the afternoon.
Ferrari’s revenue rose 14.1% to 1.47 billion euros in the second quarter. The Europe-Middle East-Africa (EMEA) region remained its main market, with 1,638 vehicles delivered, an increase of 17.3%. Conversely, deliveries fell by 17.5% in the Americas and by 5% in the China-Hong Kong-Taiwan region.
The automotive group’s revenues from the sale of cars and parts grew by 15% to 1.2 billion euros. In addition, sponsorship and brand revenues jumped 20% to 147 million euros, notably thanks to the launch of Formula 1.
Profits from engine sales fell 33% to 27 million, due to lower deliveries to the Italian manufacturer Maserati.
According to a strategic plan presented in June 2022 at the group’s headquarters in Maranello, Ferrari expects a turnover of around 7 billion euros by 2026.
Lamborghini continues its impressive momentum
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