Ferrari records more revenue with lesser cars

After 2012, Ferrari’s best year of sales, the company had decided to reduce the number of vehicles sold to maintain high level of exclusivity and thus increasing their value over time. The idea worked brilliantly for Ferrari. There was a reduction in sales in the year 2013, but record turnover, profits and finances. This fact was highlighted during the meeting of the Ferrari Board of Directors held in Maranello under the chairmanship of Luca di Montezemolo to examine the end-of-year financial results. While the number of homologated cars delivered to the network dropped to 6,922 cars (-5.4pc) in 2013, revenues rose by 5pc, eventually reaching an unprecedented 2.3 billion Euro. End-of-year trading profits reached a record 363.5 million euro (+8.3pc). Ferrari also delivered net profits in excess of 246 million euro (+5.4pc). RoS (Return on Sales) leapt to 15.6pc, on a par with the very best-performing companies in the luxury sector.

 UK market grew slightly and, with 677 homologated cars delivered to the network set a new record and became Europe’s leading market, overtaking Germany, where deliveries stood at 652, drop of around 100 over the previous year. Sales in Italy were down once again, confirming the trend over recent years. Italy has become a marginal market for the luxury car sector, with 205 orders it now represents less than 3pc of Ferrari’s global sales. In Greater China (People’s Republic of China, Hong Kong and Taiwan) sales to end clients were good, standing at 700, allowing it to retain its position as the second largest market worldwide. Deliveries to the dealership network were down by around a quarter. However, this was a by-product not of the market situation but Ferrari’s decision to contain stock numbers. The positive trend continues in the Middle East and Africa with an increase of 8pc bringing to 599 the number of homologated cars delivered to the network. In the Far East, Japan performed exceptionally well once again in 2013, ending the year on 380 cars, a leap of over 20pc.