Ferrari has been celebrating success on the racetrack and financial growth.
The second quarter of 2024 has been an exciting time for Ferrari. For the second year in a row, the Ferrari 499P Le Mans hypercar won the legendary 24 Hours of Le Mans endurance race, achieving victory again after triumphantly returning to top-class endurance racing after a half-century hiatus. However, as a business, Ferrari has had plenty of other exciting developments in Q2 2024, announcing the quarter’s financial results today.
Ferrari’s net revenues in the quarter increased by 16.2 percent compared to the same quarter of last year, and its total shipments increased by 2.7 percent compared to the previous year’s second quarter. Regarding profit, the quarter’s increase compared to last year is an incredibly impressive 21 percent.
The quarter’s increase in deliveries is thanks to the various new models Ferrari has recently introduced. The Purosangue, Roma Spider, and 296 GTS led the charge, with exclusive models like the SF90 XX and 812 Competizione trailing behind. The Roma is approaching the end of its lifecycle, and the 812 GTS and SF90 Stradale are phased out. Ferrari also increased allocations for the exclusive Daytona SP3.
When shipments are broken down by combustion versus hybrid cars, combustion cars remain the majority at a 52 percent to 48 percent ratio. However, electrification is a focus for the Prancing Horse, as the second quarter of 2024 saw the inauguration of Ferrari’s new e-building. The new facility features a flexible architecture that will support Ferrari’s ability to manufacture combustion, hybrid, and electric vehicles in the future. With its current financial success and more to come, Ferrari has lots to celebrate, with Q2 2024 in the books.
