Ferrari is predicting another record-breaking year amid “persistently high demand” for its sports cars despite a global cost-of-living crisis.
Ferrari projected higher sales and profits this year after delivering record results in 2022, driven by demand across the Americas and China, as it shrugged off the spectre of an economic downturn. The supercar brand’s net profits, revenues and cash generation hit record levels last year, as luxury buyers splashed out for more models and spent ever-higher sums on personalised features. Bespoke additions, from interior fabrics to distinctively coloured brake callipers, are a mainstay of Ferrari’s business, adding tens of thousands of pounds to the cost of its models that already begin at £170,000.
A procession of new models will continue to boost earnings at Ferrari, the Italian luxury sports car maker said on Thursday, as it promised "even stronger" results this year after a 16% jump in 2022 core earnings. Deliveries jumped almost a fifth to 13,221 cars last year, led by the established Ferrari Portofino M and the SF90 family models, as well as the 296 GTB and 812 Competizione. Ferrari said it would launch four models this year, adding to the new 390,000 euro ($428,000) Purosangue four-seater which will start being delivered to customers in the second quarter.