Ferrari is on the floor. In the first 9 months of 2019, the Italian sports car manufacturer sold 7,755 cars, 900 more than during the same period in 2018. Despite the decline in engine sales to the Maserati brand, its sales over 9 months increases by 8% to 2.83 billion euros.
This increase is supported by the commercial success of Portofino, its new "entry-level" model at 198,000 euros, and the 812 Superfast, sold at around 290,000 euros. Europe, the Middle East and Africa remain the main markets for the prancing horse brand. In China, however, sales declined slightly in China.
Another driver of growth: with its return to the front ranks in F1, Ferrari has increased its revenue from the 400 million euros from the operation of the brand and sponsorship. The manufacturer has just announced a partnership with Armani, another icon of Made in Italy, to increase the volume of high-end derivatives.
A strategy inherited from Sergio Marchionne, his boss who died in 2018, who wanted to turn Ferrari into an authentic luxury brand. These derivatives must provide 10% of operating income within 7 to 10 years.
Nearly one billion euros of expected result this year
In these circumstances, Ferrari has revised upward its forecast for 2019. The operating result now expected in 2019 is 920 million euros against 850 million originally planned.
On the Milan Stock Exchange, the stock jumped 6.60% to 153 euros, its highest ever. While the rest of the automotive industry is depressed or anxious about the constraints of CO2 emissions, the Maranello company, founded by Enzo Ferrari in 1947, is now valued at more than 30 billion euros, a first in its history. history.
Such a valuation puts the luxury vehicle manufacturer at the ninth place in the world, behind Ford Motors (32.1 billion euros) but quite clearly ahead of Renault (13.94 billion euros), Peugeot (22 billion euros) or Fiat Chrysler (22.4 billion euros).
This march forward should continue. In its strategic plan, the brand plans until 2022 a development on hybrid cars or on exceptional cars, as its Monza sold from 1.5 million euros.