Ferrari puts up impressive numbers for Q1
Several automakers, including but not limited to Porsche, Mercedes-Benz, and Ford, have suspended their financial guidance after Q1 because of uncertainties relating to U.S. vehicle and parts import tariffs, but Ferrari deviated from this trend. Instead, the Italian automaker confirmed its 2025 economic forecast after reporting a 15% profit rise during Q1, and despite warning that U.S. tariffs could cut 50 basis points (half a percent) of its 2025 profit margins. Ferrari also said it will start deliveries of its first-ever electric vehicle (EV), the Elettrica, in October 2026. The company’s CEO, Benedetto Vigna, said the first part of the Elettrica’s reveal, scheduled for October of this year, will focus on the vehicle’s “technological heart,” according to Carscoops. Ferrari will develop and build the EV’s electric motors, battery modules, and inverters in Maranello.
Ferrari
How Ferrari achieved its positive Q1 resultsÂ
The exotic carmaker is forecasted to bring in 2025 earnings of at least €2.68 billion ($3.03 billion) before interest, taxes, depreciation and amortisation, Reuters reports. Ferrari’s Q1 success is attributed to a more expensive inventory, including the 499P Modificata ($5.4 million), the SF90XX lineup (starting at $890,000), and the 12Cilindri (starting at $470,950), along with an increase in demand for bespoke specs and from more profitable markets, such as the Americas. Shipments rose 8% in Europe, the Middle East, and Africa, while the Americas registered a 3% increase, according to The Wall Street Journal. The most frequently delivered Ferraris included the Roma Spider, 296 GTS, SF90XX family, and the Purosangue. Markets with a decline in deliveries comprised China, Hong Kong, and Taiwan at 25%, and the rest of the Asia-Pacific at 6%.
Vigna noted the automaker shipped 3,593 cars during Q1, 33 more than the previous year, which was mostly in line with expectations. He added that Ferrari achieved these results because the company focused on the quality of revenue vs. volumes. In Q1, Ferrari reported a net profit of €412 million ($465.9 million), up from €352 million during the same period last year.
“All key metrics recorded double-digit growth, underscoring a strong profitability driven by our product mix and continued demand for personalizations,” Vigna said to The Wall Street Journal. Conversely, automakers like Mercedes-Benz reported experiencing lower profitability in Q1, with U.S. tariffs causing the company to ditch its 2025 financial guidance. Mercedes-Benz announced a 7.3% profit margin for its car segment, down from 9% during last year’s Q1. “The current volatility with regard to tariff policies, mitigation measures and resulting potential direct and indirect effects, in particular on customer behavior and demand, is too high to reliably assess the business development for the remainder of the year,” the German automaker said in a statement according to Reuters.
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Final thoughts
Ferrari’s announcement on its EV is significant since it’s the first time the automaker has gone on record providing an official timetable for the model’s debut. What’s equally significant is how the company is sticking to its 2025 financial guidance, while nearly the entire auto industry is doing the opposite. With grim auto market outlooks for 2025 appearing left and right, Ferrari’s standout Q1 and confidence in its annual projections are a breath of fresh air.
