It may have taken Ferrari a little longer to post last year’s financial results, but, apparently, it was worth the wait.
The Prancing Horse sold some 11,115 luxury cars to collectors in 2021, which is a new record for the 75-year-old nameplate. Fellow top-tier marques, such as Lamborghini, Rolls-Royce, Bentley and Tesla, also experienced their best year yet despite dealing with a global pandemic and the subsequent supply chain issues.
To put Ferrari’s results into perspective, the Italian automaker registered double-digit growth compared to 2020 in which 9,119 four-wheelers were delivered. That works out to be an increase of 22.3 per cent year over year. The Prancing Horse also comfortably surpassed the benchmarks that were set in 2019, which was actually the first year that the marque ventured into five-figure territory with 10,131 cars delivered.
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Last year’s sales, which resulted in a net revenue of roughly $4.8 million, were primarily driven by Ferrari’s 8-cylinder models. According to the marque, the sales of V-8 cars were up 34.6 per cent compared to the previous year due to the consistent demand for the F8 family as well as the release of the Ferrari Roma and SF90 Stradale. The number of V-12 supercars rolling out of Maranello, meanwhile, dropped a substantial 16.1 per cent. The automaker attributes this to the fact that the 812 Superfast was phased out during the calendar year.
As in recent years, the EMEA region—Europe, the Middle East, and Africa—was Ferrari’s largest market, with a 14 per cent jump year over year and a total of 5,492 deliveries. The Americas took the second spot with a 22 per cent increase and 2,831 Ferraris sold. Interestingly, sales in mainland China, Hong Kong and Taiwan skyrocketed 97 per cent, but this is still the smallest market in terms of overall sales, with a comparatively modest 899 cars delivered in 2021.
Ferrari’s head honcho Benedetto Vigna chalks up the success to a strong business model.
“We carefully managed an impressive order intake in line with our strategy to pursue controlled growth and preserve brand exclusivity,” the CEO said in a statement shared Wednesday.
Vigna added that Ferrari is hoping to build on the momentum. He says the marque will share future plans at the Capital Markets Day in Maranello on 16 June. Stay tuned.
Previously published on Robb Report.
