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The two luxury car brands have just announced their results for the first half of the year and they are more than good.
After a very successful 2021 for the two Italian car brands, new records are in prospect for the rest of 2022, with unprecedented levels of orders.
Ferrari on track for a record 2022
For the second quarter, Ferrari said it delivered a total of 3,455 models worldwide, up 28.7% from 2021. This growth is reflected in the financial indicators, with quarterly sales climbing 24.5% to €1.29 billion and net profit up 22% to €238 million.
Shipments climbed 29% to 3,455 units compared to the same period last year, driven by the Ferrari Portofino M and the F8 family. The biggest increases were in Asia, where shipments to mainland China, Hong Kong and Taiwan more than doubled.
Like all of its competitors, Ferrari is in a race to electrify, and its three hybrid-powered models accounted for about 17% of total shipments in the second quarter. For 2026 the company wants to develop 15 new models and aim for annual sales of up to 6.7 billion euros, according to its latest strategic plan presented in late June.
Lamborghini success story
Lamborghini (part of the Volkswagen group) has been equally successful, with 5090 units delivered in the first six months of the year, up 4.9% year-on-year: a new record for a half-year.
Sales for the first half of the year reached 1.33 billion euros, up 30.6%, with an operating profit of 425 million euros, up 69.6%.
The sports brand has benefited from the success of its star SUV: the Urus, launched in 2018, it accounts for 61% of sales in the first half of the year, with the rest split between two models, the Huracán and the Aventador.
“We have just completed an exceptional first half of the year, despite the continued uncertainty caused by the geopolitical situation. The outlook is also positive, with orders taken already covering the entire 2023 production,” comments Lamborghini CEO Stephan Winkelmann.
The brand plans to launch its first mass-produced hybrid models in 2023, three years after the SF90 Stradale, the first plug-in hybrid from rival Ferrari.
No crisis for luxury cars
The automotive sector has been hit hard by the covid-19 restrictions and the shortage of semiconductors, suffering a dramatic drop in sales in recent months. But the luxury car sector is doing well.
Indeed, it is on these models that the automotive groups make the most margins, just as the generalist brands do by prioritizing the production of the most profitable models, to the detriment of the others. Ferrari and Lamborghini are no exception to the rule, as their order books are filling up and shipments are going well.
Read also > Audi, Bentley, Lamborghini : Volkswagen Group’s premium division does well
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The two luxury car brands have just announced their results for the first half of the year and they are more than good.
After a very successful 2021 for the two Italian car brands, new records are in prospect for the rest of 2022, with unprecedented levels of orders.
Ferrari on track for a record 2022
For the second quarter, Ferrari said it delivered a total of 3,455 models worldwide, up 28.7% from 2021. This growth is reflected in the financial indicators, with quarterly sales climbing 24.5% to €1.29 billion and net profit up 22% to €238 million.
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The two luxury car brands have just announced their results for the first half of the year and they are more than good.
After a very successful 2021 for the two Italian car brands, new records are in prospect for the rest of 2022, with unprecedented levels of orders.
Ferrari on track for a record 2022
For the second quarter, Ferrari said it delivered a total of 3,455 models worldwide, up 28.7% from 2021. This growth is reflected in the financial indicators, with quarterly sales climbing 24.5% to €1.29 billion and net profit up 22% to €238 million.
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