Unlike Lamborghini, who heavily relies on the Urus to lift sales in global markets, Ferrari is doing very well without an SUV in its lineup. The Purosangue high-riding vehicle is still a few years away and when it arrives, it will expand the company’s reach, while also boosting their revenue.
In the first quarter of the year, the Italian automaker shifted 2,610 cars. That’s 482 units more compared to the previous time period, a healthy 23 percent increase, pulled by the cheapest Ferrari on offer: the Portofino. Overall sales of V8-powered models were up by 30.6 percent, whereas those using V12 engines grew by 4.1 percent.
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“This was partially offset by lower volume from the 488 family, with the 488 GTB and the 488 Spider approaching the end of their lifecycles, the 488 Pista ramping up and the 488 Pista Spider yet to arrive on the market”, explained Ferrari. “V12 performance was led by the 812 Superfast.”
Significant growth was registered across all regions. In the Americas, sales were up by 26.5 percent and in the EMEA (Europe, Middle East, Africa) by 9.6 percent. The Asia-Pacific region contributed with a 29.3 percent increase, but these pale compared to the results obtained in Mainland China, Hong Kong and Taiwan, where sales went up by 79.2 percent.
Ferrari boosted its income furthermore in the first three months of the year with spare parts and engines. The net revenue for the same time period, which ended on March 31, increased to €940 million ($1.05 billion), up 13.1 percent.