There are lots of surprises in store for Ferrari in 2021.
It's currently sales figure season, and all the major manufacturers are reporting on how the year has been for them up to this point. Some sales reports have been a little unusual - Tesla's, for example, are nothing like analysts expected - but for the most part, things have been going according to plan. Porsche continues to sell truckloads of Taycan EVs and Lincoln continues to sell sedans to almost nobody. But if there's a brand that we expected to do well this year, it's Ferrari. Earlier this year, the Italian automaker released the spectacular Ferrari 296 GTB, a car that is sure to be a massive success, and although it'll be some time before we see its impact on Ferrari's sales figures, the brand has plenty of other amazing machines that have helped it through 2021.
Ferrari reports that it has delivered 2,750 vehicles in the third quarter of the year, up 437 units or 18.9% compared to the same time last year. V8 models saw sales rise 39.4% while V12s were down by 35.1%, which Ferrari attributes to the reduced volume of the 812 Superfast. Most deliveries made this past quarter were series-produced vehicles like the recently introduced SF90 Spider and the Portofino M, but the special-edition Monza SP1 and SP2 were delivered on schedule too. By region, Europe, the Middle East, and Africa saw a 1.6% increase in shipments while the Americas increased by 40.1%. Mainland China, Hong Kong, and Taiwan saw the arrival of the Ferrari Roma and SF90 Stradale push the region to a 109.2% increase, while the rest of the Asia Pacific region improved by 21.1%
As for net revenue, Ferrari recorded an income of €1.053 billion (approximately $1.22 billion at the time of writing), representing an increase of 20.7% at constant currency. Revenue from cars and spare parts reached €883 million, up 23.5% at constant currency, while engine revenue reached €55 million, an increase of 24.8% at constant currency. This was attributed to more shipments being made to Maserati and the rental of engines to other Formula 1 racing teams. Sponsorship, commercial, and brand revenues also increased by €95 million, an increase of 5.8% at constant currency. With all this talk of currency, it's nice to see what impact it had, and Ferrari says that "currency - including translation and transaction impacts as well as foreign currency hedges - had a negative impact of €15 million, mostly related to FX hedges."
All in all, it's been a good year for Ferrari, and if things continue as they have been, it'll be another record year for the Modena-based magicians.