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The Italian manufacturer reported a 27% increase in first-quarter profit and expects a strong second quarter, including the start of Purosangue deliveries.
A good start to 2023 for Ferrari, which expects a good second quarter with the start of deliveries of the Purosangue model, for which waiting lists have been extended until 2026.
Suspended due to very high demand, the manufacturer has decided to reopen orders for this car.
Ferrari CEO Benedetto Vigna announced that the international order book covers production until the end of 2025. However, for customers wishing to acquire their Purosangue – which is priced at 390,000 euros ($430,000) – will still have to wait until 2026 to receive it.
“We were positively surprised by this strong interest,” Mr. Vigna told analysts presenting the company’s quarterly results.
Nevertheless, he confirmed the brand’s commitment to keep sales of the gasoline-powered model below 20 percent of the group’s total shipments over the car’s lifecycle, and not to extend it, in order to preserve some exclusivity.
All lights are green for Ferrari
Shares of the Italian label listed in Milan rose 5.6 % Thursday to a new record high of 267.20 euros.
For the January-March period, the prancing horse brand’s EBITDA amounted to 537 million euros, exceeding analysts’ expectations of 508 million euros, according to a Reuters poll.
A boost in results that was driven in particular by higher shipments of the Portofino M, 296 GTB and 812 Competizione models.
Bernstein analysts noted that Ferrari’s “extremely strong” product line, pricing power and long order backlog protect the company from possible recession-induced order cancellations.
The automaker, which plans a first electric model by 2025, confirmed its full-year forecast, although Bernstein’s experts said they expect it to be revealed later in the year.
Read also >Formula 1: Ferrari accelerates in online games
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The Italian manufacturer reported a 27% increase in first-quarter profit and expects a strong second quarter, including the start of Purosangue deliveries.
A good start to 2023 for Ferrari, which expects a good second quarter with the start of deliveries of the Purosangue model, for which waiting lists have been extended until 2026.
Suspended due to very high demand, the manufacturer has decided to reopen orders for this car.
Ferrari CEO Benedetto Vigna announced that the international order book covers production until the end of 2025. However, for customers wishing to acquire their Purosangue – which is priced at 390,000 euros ($430,000) – will still have to wait until 2026 to receive it.
“We were positively surprised by this strong interest,” Mr. Vigna told analysts presenting the company’s quarterly results.
Nevertheless, he confirmed the brand’s commitment to keep sales of the gasoline-powered model below 20 percent of the group’s total shipments over the car’s lifecycle, and not to extend it, in order to preserve some exclusivity.
All lights are green for Ferrari
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The Italian manufacturer reported a 27% increase in first-quarter profit and expects a strong second quarter, including the start of Purosangue deliveries.
A good start to 2023 for Ferrari, which expects a good second quarter with the start of deliveries of the Purosangue model, for which waiting lists have been extended until 2026.
Suspended due to very high demand, the manufacturer has decided to reopen orders for this car.
Ferrari CEO Benedetto Vigna announced that the international order book covers production until the end of 2025. However, for customers wishing to acquire their Purosangue – which is priced at 390,000 euros ($430,000) – will still have to wait until 2026 to receive it.
“We were positively surprised by this strong interest,” Mr. Vigna told analysts presenting the company’s quarterly results.
Nevertheless, he confirmed the brand’s commitment to keep sales of the gasoline-powered model below 20 percent of the group’s total shipments over the car’s lifecycle, and not to extend it, in order to preserve some exclusivity.
All lights are green for Ferrari
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