Ferrari’s third-quarter financial statement revealed that it delivered more hybrid supercars in the three months between July and September 2023 than its more traditional autos, despite only having four semi-electric models in its catalogue compared to nine petrol-only models.
Shipments in Q3 2023 totaled 3,459 units, split between 51% hybrid and 49% internal combustion engine (ICE) vehicles.
The bulk of the deliveries was driven by the battery-incentivised 296 and SF90 families, said Benedetto Vigna, Ferrari Chief Executive Officer, with the ICE F8 Spider also proving a popular option.
The Europe, Middle East, and Africa (EMEA) region was the recipient of most Ferrari vehicles accounting for 1,398 units, an 8% increase over Q3 2022, followed by the Americas at 1,096 units (+21%), Asia-Pacific (APAC) at 570 units (+2%), and Mainland China, Hong Kong, and Taiwan at 395 units (-8%).
296 GTB Assetto Fiorano
A record quarter
The Italian marque once again registered record profit growth between July and September, with net revenues soaring by 24% in comparison to the same period in 2022 to €1.544 billion (R30.31 billion).
Vigna attributes this success to an “even richer mix” of options for its high-profile clientele and the “continuing appeal” of expanded personalization options.
The brand’s shipments, revenues, and profit were reported as follows:
| Q3 2023 | Q3 2022 | Change | |
|---|---|---|---|
| Shipments | 3,459 units | 3,188 units | 271 units (+9%) |
| Net revenues | €1.544 billion | €1.250 billion | €294 million (+24%) |
| Net profit | €332 million | €228 million | €104 million (+46%) |
In addition, Ferrari’s order books are at their highest recorded levels in history across all geographies and have been confirmed to be filled up until the end of 2025, said Vigna, with fervent demand for the brand’s pioneer SUV, the Purosangue.
The brand is also readying up to launch its first electric vehicle in the next two years, which the CEO said will be unlike anything else currently on the market.
“Our brand’s uniqueness has once again contributed to this success, informing everything we do – from car launches, including the latest 296 Challenge and 499P Modificata, to the exclusive experiences we offer our clients, such as the Ferrari Gala recently held in New York and the Finali Mondiali at Mugello circuit,” said Vigna.
Keyword: Ferrari’s 4 hybrids outsell its 9 petrol cars