Ferrari sales suggest the Italian automaker may be immune to industry woes

It is perhaps one of the most recognizable icons in the world. No, not Ford or Toyota. We’re talking about rarefied air Ferrari. Fortunately for Maranello’s perennial treasure, Ferrari’s sales figures show some immunity to some of the latest luxury market follies.

Ferrari sales figures show a 7% increase over the previous year, despite fewer cars.

Despite car sales The follies of the auto industry, Ferrari’s sales figures paint a picture of defiance. Unfortunately, for other premium brands such as Mercedes-Benz and Jaguar, issues such as low interest in electric vehicles have led to falling sales. However, everyone’s favorite prancing horse does not show the same market compression.

According to Wall Street JournalFerrari posted better sales and profit figures in the third quarter of 2024 than a year earlier. In particular, the iconic Italian automaker reported sales growth of 7% compared to the previous year. However, while sales were estimated to be around 1.66 billion euros, the company reported 1.64 billion. Not too shabby.

Moreover, Ferrari sales data suggests a 2% increase in activity in the EMEA markets. However, in what appears to be a balancing act, Ferrari sales in America were down 2%. The Asian market share (excluding China, Taiwan and Hong Kong) increased by 6%.

Analysts attribute some of the brand’s success to new models such as Purosangathe brand’s first SUV. Moreover, the hybridized 296 GTS and Roma Spider complemented the Purosangue as Ferrari’s best-sellers. On the other hand, Ferrari reported a 29% drop in deliveries to China, Taiwan and Hong Kong. While this may seem alarming, Europe, America, the Middle East and Africa represent the brand’s largest markets.

Luxury car maker Enzo Ferrari’s namesake clearly has a market. After all, the brand has grown significantly since Covid. According to Good car, bad carThe pandemic has sharply reduced interest in new cars across the board, and the Modena brand has not been left behind.

However, after the pandemic, interest in the brand quickly revived, especially thanks to the automaker’s new models. What’s more, the numbers dwarf those of other premium automakers compared to last year. For example, the US Jaguar market experienced a 43.62% year-over-year decline from 2021 to 2022 and a 13.65% decline from 2022 to 2023. Although not as dramatic, Mercedes-Benz fell 0.19% from 2022 to 2023 in the United States. .