Ferrari also sets a new record for net profits as well
Well it seems that although many automakers were affected by supply shortages all throughout 2022, many carmakers actually had stellar a year and even ended up breaking sales records last year. Ferrari is one of these automakers as the company delivered 13,221 cars as opposed to 11,155 models in 2021 to set a new sales record.
Ferrari also set another record by achieving a new high in terms of net profits of €939 million (roughly USD1.024 billion at current exchange rates). This is in contrast to €833 million (about USD909 million according to current exchange rates) for 2021. Kudos to the Italian carmaker for breaking two records at once.
Moreover, the Europe, Middle East, and Africa (EMEA) region was the biggest for Ferrari in 2022 as the brand delivered 5,958 vehicles in this region last year, which was up from 5,492 in the previous year. The second largest sales region for the brand in 2022 was the Americas with 3,447 units, up from 2,831 in 2021.
Meanwhile, in Mainland China, Hong Kong, and Taiwan, Ferrari sold 1,552 cars. This was up from 899 cars in 2021. Finally, the brand saw 2,264 sales in the Asia-Pacific (APAC) region which was up from 1,933 vehicles in the previous year. So clearly, the demand for these vehicles are up all over the world.
Despite multiple challenges faced by the automotive industry, Ferrari actually managed a total revenue of €5.095 billion (approximately USD5.563 billion) in 2022 which was up 19 percent from 2021. This is a good sign and hopefully 2023 will not be such a bad year for the automotive industry.
On top of that, selling vehicles and spare parts brought in €4.341 billion (around USD4.741 billion) in revenue for Ferrari in 2022, a 22 percent increase from the year before while branding and sponsorship deals accounted for the second-largest portion of the business’ profits by bringing in €479 million (about USD523 million).
While 2022 was already an impressive year for Ferrari, the brand predicts that 2023 might be even better than last year. The prancing horse expects net revenue to be around €5.7 billion (roughly USD6.224 billion), including more money from racing and lifestyle activities. Ferrari plans to increase prices to offset cost inflation.
Additionally, deliveries of the brand’s first widely available 4-door product, the Ferrari Purosangue will begin in 2023 so this 715 hp and 716 Nm producing V12 vehicle will definitely add to the total number of sales for the brand especially since it already has a two-year waiting list now with more orders, no doubt, on the way.
Once again, congratulations Ferrari on this stellar performance and hopefully the brand can set new records again this year.
