It's a great time to be a rich person.
Interest rates may be skyrocketing and middle-class Americans may be suffering to afford groceries, but you wouldn't know it by looking at sales of luxury automakers like Ferrari and Lamborghini. Both boutique Italian automakers reported record sales in 2022, beating out previous records from 2021. It's worth noting that these two were not outliers: Rolls-Royce also had its best year ever and so did Bentley. Clearly, it's a great time to be rich.
Starting with Ferrari, the Maranello-based brand delivered 13,221 vehicles in 2022, up 19% from last year's 11,155 units. The Americas (including the US) made up the second-biggest market with 3,447 units, up 22% from 2,831 in 2021. Ferrari's largest market was Europe, the Middle East, and Africa at 5,958, up 8% from last year.
Sales were spurred on by the Ferrari Portofino M, SF90 family, 296 GTB, and the 812 Competizione, the latter of which was already sold out as early as 2021. Ferrari does not specifically break down sales by model, but says Monza SP1 and SP2 deliveries concluded in Q1 2022 and the first few Daytona SP3 units were presented to customers in Q4. Sales should continue to climb with the Ferrari Purosangue SUV set to hit the market this year.
As for the Raging Bull from Sant'Agata Bolognese, the company easily outsold its Italian rival with 9,233 cars in 2022. This beats the previous record of 8,405 cars, set by Lamborghini in 2021, by a solid 10%. Unlike Ferrari, the US was Lamborghini's biggest market with 2,721 cars delivered, up 10% over last year. China, Hong Kong, and Macau were second with 1,018 cars, up 9%.
The Lamborghini Urus once again led the brand in sales with 5,367 units (up 7%), while the Huracan came in a distant second with 3,113 units (up 20%). As for the Aventador, which is now officially out of production after Lamborghini rebuilt the 15 cars that sank on the Felicity Ace, it ended the year with 753 units.
"Our trend of growth and development continues, and this shows that our direction is sound and our choices are on the mark. This is the product of well-defined collective assessments that can produce consistent and concrete results. We have been able to carefully and meticulously manage an extraordinary order intake, pursuing a clear strategy with the primary objective of maintaining controlled growth to protect the exclusivity of our brand. 2023 is going to be a year of challenges and changes that we are ready to confront by always pushing ourselves beyond. We now have the opportunity to focus on our next objectives also thanks to an 18-month waiting list, which enables us to look to the future and the upcoming goals with confidence," said Chairman and CEO of Automobili Lamborghini, Stephan Winkelmann.
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