Sales

Ferrari Still Crushing Sales, Even Without An SUV

Ferrari is printing money for its stockholders.

Ever since it went public back in 2015, Ferrari has basically been printing money for its stock holders. The company set sales records in 2016 and continues to exceed expectations. According to Automotive News Europe, Ferrari's Q3 earnings for 2017 are up 13 percent to 266 million euros ($310 million). Ferrari says that these stellar earnings figures were helped by strong sales of V12 models like the GTC4Lusso and LaFerrari Aperta. Based on these figures, Ferrari doesn't expect sales to slow down any time soon.

In fact, Ferrari believes that its end of year sales will be over 1 billion euros, up from a previous forecast of 950 million euros (which is reportedly conservative). Ferrari CEO Sergio Marchionne has targeted 1 billion euros in operating profit since replacing Luca Cordero Di Montezemolo as the head of the Italian supercar maker in 2014. Marchionne hit this target before his initial goal of 2019, which will pave the way for a new five year business plan before he retires. This plan includes a ramp up of production that will bring Ferrari into new categories. The rumored Ferrari SUV will be one of these new models that will really have the Italian marque rolling in profits.

We should hear more about Marchionne's plans for Ferrari in early 2018. This plan should include more volume models like an SUV, as well as more low-production specialty models and limited editions. Ferrari stock has soared in recent years, and it doesn't look like that momentum will be slowing down any time soon.

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