Ferrari’s Green Transition: Hybrids Dominate Nearly Half of Q2 Sales!

August 3, 2023
1 min read
Ferrari (FACEBOOK)

In a momentous shift for the iconic automaker, Ferrari reports hybrids accounted for 43% of its total Q2 2023 deliveries. Not only does this mark a significant shift towards electrification, but it also indicates a staggering growth of over 100% in hybrid sales since the same period in 2022. An expanded portfolio of nine ICE and four hybrid vehicles contributed to this evolution in consumer preference.

Ferrari has shipped a total of 6,959 vehicles, ICE and hybrid combined, in H1 2023, marking a 4% year-on-year growth. Even though it trails behind the top regional player, EMEA, with 3,172 cars, the Americas demonstrated a healthy appetite for the Maranello’s creations with 1,831 units.

Models such as the 296 GTB, Roma, and Portofino M were the major drivers of Ferrari’s Q2 2023 sales. Also, customers started to enjoy the novel experience of owning the first Purosangue SUVs and the increased production of Daytona SP3 models. The success story of the 296 GTS and 812 Competizione A convertibles continues, while we expect the Purosangue, currently powered exclusively by V12 engines, to adopt a hybrid variant before 2030.

The next generation of Ferrari’s hypercar is set to break cover in 2024, replacing the legendary LaFerrari. While it might lack the V12 heart, expect a powerful V8 or even a V6 engine, hinting at the possibility of substantial electrification.

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Ferrari’s commitment to sustainability is further underscored by its plan to unveil its first EV in 2025. The company promises a unique and emotional driving experience in line with its traditional ethos.

The Q2 financial results showed the company’s solid standing, boasting a substantial $365 million in adjusted net profit. It’s notable that of the 3,392 cars sold, 43% were hybrids. The current lineup includes eight production models, half of which are hybrids, suggesting that the iconic brand is embracing the future of sustainable luxury motoring.

Personalization, or the ability for clients to customize their vehicles, emerged as a lucrative segment, along with the company’s powerful pricing strategy, contributing to the impressive Q2 results. Ferrari is confident in its future, raising the full-year revenue and core earnings forecasts, underpinned by “exceptional” Q2 performance and “robust” order intake.

Ferrari’s CEO, Benedetto Vigna, highlighted the particularly robust demand for the Daytona SP3, the 812 Competizione, and the SF90 models. This commitment to providing a superior, personalized driving experience proves that the brand isn’t merely surviving, but thriving in a market increasingly leaning towards sustainability.

While its famous V12 engine will always have a special place in the hearts of enthusiasts, Ferrari’s readiness to embrace change signifies a bold and forward-thinking strategy. As the company continues to intertwine performance and sustainability, it’s thrilling to envision what the Prancing Horse’s future holds.

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