Italy’s luxury sports carmaker Ferrari has delayed its 2022 earnings guidance of €1.8-2bn ($2.2-2.4bn) to 2023. It has, however, retained its earnings forecast for 2021. Ferrari’s scheduled launch of its first EV is on track for 2025.
The company will continue its cautious outlook this year and the next considering COVID-19 emergencies, the carmaker noted in its Q1 2021 earning release on Wednesday. However, Ferrari is confident of achieving its estimated 2021 profits between €1.45-1.5bn, according to media reports.
Shipments
Ferrari’s Q1 2021 shipments increased by 1.2pc to 2,771 units compared to 2,738 cars in the previous quarter. Its shipments to Mainland China, Hong Kong, and Taiwan jumped by 424pc last quarter at 194 units from 37 units in Q4 2020. Ferrari shipped 755 units to the US in Q1 2021 compared to 750 vehicles in the previous quarter.
Shipments to Europe, Middle East Africa (EMEA), and the rest of the Asia-Pacific (APAC) countries declined by 4pc and 17pc, respectively. In terms of volume, Ferrari shipped 1,459 units to EMEA countries and 363 to other APAC nations.
Ferrari attributed the consignment increase in China, Hong Kong, and Taiwan to the availability of new models.
Sales
The company’s V8 line-up witnessed an 8.1pc increase in sales; conversely, sales of its V12 range dipped by 19.6pc in Q1 2021. Ferrari’s F8 and 812GTS models were popular this quarter, and Monza SP1 and SP2 were in line with production forecasts. The SF90 Stradale and Roma models are still getting ramped up. However, the company has decided to phase out its 488 Pista and Portofino ranges.
Ferrari also plans to launch its new SUV Purosangue by 2022, according to its statement to the media on Wednesday.