Ferrari: over 1 billion Euros in profit in 2023. And a new E-car on the way?

Ferrari: over 1 billion Euros in profit in 2023. And a new E-car on the way?

Innovation doesn’t stop in Maranello: following the announcement of the first electric Ferrari set to debut in 2025, with a starting price of 500,000 euros, the famous Italian brand has more surprises in store. In 2023, more than 13,600 cars were sold, with revenue approaching 6 billion euros.

The first electric Ferrari model will be built in the brand-new e-Building in Maranello, a cutting-edge facility dedicated to the production of electric vehicles. This plant, which will be inaugurated on June 21 in the presence of the President of the Republic, Sergio Mattarella, represents a significant investment in Ferrari’s production and technological capabilities. The e-Building will not only support the production of electric cars but also hybrids and gasoline-powered vehicles, offering Ferrari considerable operational flexibility.

Increasing Production Capacity

With the new plant, Ferrari aims to increase its production capacity, potentially up to 20,000 vehicles per year. Currently, Ferrari’s production capacity is distributed across various lines, but the addition of the e-Building will allow for more efficient and versatile management of different types of propulsion. Benedetto Vigna, CEO of Ferrari, emphasized the strategic importance of this facility, stating to shareholders: “The state-of-the-art plant will ensure flexibility and technical capacity beyond our needs for the years to come.”

Financial Results and Future Ambitions

The year 2023 was a record year for Ferrari, with 13,663 cars delivered worldwide, a revenue of 5.9 billion euros, and a net profit of 1.2 billion euros. These results demonstrate the strong global demand for Ferrari vehicles and the brand’s ability to attract new customers while maintaining unparalleled exclusivity.

The introduction of electric vehicles represents both a challenge and an opportunity for Ferrari to continue innovating and maintaining its leadership in the luxury sports car sector. With the second electric model already in the design phase, Ferrari shows a concrete commitment to the future of electric mobility.

Implications for the Market and the Ferrari Brand

The introduction of electric vehicles into Ferrari’s portfolio not only addresses environmental sustainability requirements but also increasingly stringent emission regulations. This step will allow Ferrari to further expand its customer base, attracted by the unique combination of high performance and environmental responsibility.

The e-Building thus represents not only an infrastructural investment but also a symbol of Ferrari’s ongoing commitment to innovation and excellence. With increased production capacity and new technologies at its disposal, Ferrari is well-positioned to face future challenges and consolidate its leadership in the luxury car market.