According to a report by Bloomberg, luxury automotive brand Ferrari generated an impressive $1.8 billion in revenue in 2024. This figure far exceeded expectations, especially considering the current global downturn in the luxury car market.
The key driver of this remarkable performance was Ferrari’s sales in the US market. In 2024, one out of every four Ferraris sold went to an American buyer. Overall, Ferrari’s sales in the Americas grew by 8% in the last quarter.
For the full year 2024, Ferrari delivered a total of 13,752 supercars to global customers, representing a 1% increase. This success was largely driven by popular models such as the Ferrari Purosangue, Roma Spider, and 296 GTS. Meanwhile, Ferrari’s stock has risen nearly 30% over the past year.
However, Ferrari’s performance varied across markets. In the world’s largest automotive market, China, Ferrari’s sales declined by 38% in the fourth quarter of 2024 due to reduced consumer spending. This contributed to the overall luxury sector’s downturn.
In 2025, the brand may shift its approach in the Chinese market, where there is a growing demand for luxury electric vehicles. This was hinted at by Ferrari’s CEO, Benedetto Vigna, during a conversation with reporters.
Looking ahead, Ferrari predicts it will bring in over $7.3 billion in revenue for 2025, with adjusted earnings of at least $2.8 billion. According to Vigna, this growth means the brand will achieve most of its 2026 profit targets a year earlier than planned.
Ferrari is now gearing up for the highly anticipated launch of its first-ever electric supercar in October. Breaking with the tradition of roaring gasoline engines, the new Ferrari will make its debut on October 9, 2025, at its headquarters in Maranello, Italy.
While Vigna declined to provide specific details about the electric car, he assured that it would be unveiled “in a unique and innovative way.”
Additionally, Vigna mentioned that the electric supercar is just one of six new models Ferrari plans to introduce this year. He also stated that policies of the Donald Trump administration or potential trade wars would not impact Ferrari’s plans for the US market.
Ferrari began offering hybrid vehicles to its wealthy clientele in 2019. Last year, hybrid supercars accounted for 51% of the company’s total sales.
Furthermore, additional costs incurred by customers for personalization, including paint, patterns, and carbon fiber details, made up about 20% of Ferrari’s total revenue in 2024, a 1% increase from 2023. Antonio Picca Piccon, Ferrari’s CFO, expects this trend to continue throughout this year.
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