Ferrari crosses 2023’s finish line to a major victory.
For the first time, Ferrari’s net profit exceeded 1 billion Euros in 2023, representing a 34 percent increase over last year. This means that 2023 was one of Ferrari’s most successful years ever as a manufacturer, and the recent success has the brand looking very optimistically at the future as it begins to execute its 2024 plans.
Vehicle shipments, totaling 13,663 throughout the year, increased by 3.3 percent compared to last year, and that increase is credited to deliveries increasing for the Purosangue, 296, and SF90, and deliveries of the Roma Spider commencing in the fourth quarter of the year. With 11 total combustion engine-powered models, and four hybrid powered models, the distribution of deliveries between the two was 56 to 44 percent respectively, which points to an increasing popularity of Ferrari’s powerful, innovative hybrid offerings.
The engines branch of Ferrari’s business, however, took a downturn due to the expiration of its contract with Maserati at the end of last year. Meanwhile, as a manufacturer with a heritage in and dedication to racing, Formula 1 represented one of the most successful aspects of the Ferrari business, with Formula 1 among a group of Ferrari’s efforts that contributed to 81 million Euros of revenues. With plenty of wind in its sails due to its successful 2023 results, the Prancing Horse is looking forward to even more success in the future.
