The numbers are in, and Ferrari had a strong 2024.
Ferrari is one of the world’s most powerful and iconic brands, let alone being a dominant force and a household name in the worlds of motorsport and automotive luxury. However, its financial results for 2024, which have recently been reported, add quantitative validity to those characteristics, and prove that Ferrari continues to be a dominant force in today’s automotive industry.
Net revenues for Ferrari have improved by nearly 12 percent in 2024 compared to 2023, and its 13,752 vehicles delivered in 2024 also represent an increase compared to the year prior, albeit by only one percent. Operating profit increased by 17 percent year-over-year, with profit margins increasing as well. Ferrari’s CEO, Benedetto Vigna, says that these favorable results are thanks to “quality of revenue over volumes” and “growing demand for personalizations.”
While Ferrari clients are purchasing higher-end vehicles with a greater degree of individualization, other 2024 highlights for Ferrari include the inauguration of its new e-building, a production facility with the capacity to create combustion, hybrid, and fully-electric models, as well as the reveal of its new flagship halo supercar and the LaFerrari’s successor, the new Ferrari F80.
Ferrari cites models like the Pursoangue, Roma Spider, and 296 GTS, while shipments began for the SF90XX and 12Cilindri began and shipments of the Daytona SP3 increased. The Portofino M, the SF90 Stradale, the 812 GTS, the 812 Competizione and the Roma were phased out throughout the year, and the 812 Competizione A approached the end of its lifecycle. With 10 combustion-powered models and 6 hybrid models in its lineup, deliveries of combustion to hybrid models for Ferrari sat at a 49:51-percent ratio respectively.
With an evolving lineup and new creations ready to hit the market, Ferrari is coming off of a strong 2024 with a bright future on the horizon for 2025.