Released on February 2, 2022 18:02Updated February 2nd. 2022 at 06:48
In Formula 1, we call it a “hat trick” when a driver goes from pole position, fastest lap and victory on a race weekend. What Ferrari has achieved in 2021 is such a perfect picture in terms of turnover, cars sold or net profit. Like its predecessors Rolls-Royce, Bentley and Lamborghini, it broke the Prancing Horse record.
Ferrari crossed a symbolic milestone with 11,155 vehicles sold in 2021, up 22.3% compared to 2020, but above all 10.1% compared to 2019, the pre-pandemic period. Volumes were driven by the V8 engine range (+34.6% per year), notably the F8 Tributo; It is one of the cheapest Ferraris, excluding the 233,000 euro fine. V12 – Ferrari segments its sales by engine – but time (-16.1%) was evident due to the gradual discontinuation of the 812 Superfast.
All geographic regions grew in 2021, but the outstanding performance of China should be highlighted, where sales doubled to 900 vehicles. On the financial side, Ferrari’s turnover increased by 23.4% in a year to 4.27 billion (+13.4% compared to 2019), while net profit reached 833 million euros, compared to 609 million a year earlier.
“All major financial indicators exceed our estimates,” welcomes new CEO Benedetto Vigna in a press release. The latter specifically points to the level of adjusted operating income – 398 million euros in the fourth quarter – “extraordinary with a record 35.9% margin”.
If Ferrari has surpassed 10,000 sales in a year – a threshold reached in 2019 – the leader, who was appointed to replace Louis Camilleri in December, recalls that “the strategy is aimed at controlled growth and maintaining the exclusivity of the brand.” The Daytona SP3, planned for this year, with a minimum of 2 million euros and 599 copies, will not contradict this.
This sensitivity to Benedetto Vigna’s exclusivity is important for a brand that will launch its first 100% electric car in 2025 under the direction of this expert in electronic chips. A new era where Ferrari can no longer stand out for the excellence of its engines and the barrier to entry to the luxury car is accessible to more competitors.
Last month, Ferrari began reorganizing and recruiting tech-savvy executives, as Benedetto Vigna pushed for second place in electrification. The brand, which lags behind its competitors, is meeting on June 16 for new announcements.