Ferrari reports 22.7% increase in shipments in Q1 2019

Ferrari has released its Q1 2019 results, which show a 22.7% increase in shipments compared to the same period in the previous year. The rise in numbers was primarily due to increased sales in China, Hong Kong and Taiwan along with strong sales of the Portofino.

Ferrari dispatched 2,610 units, including 1,290 units to Europe, Middle East and Africa (EMEA), 720 units to Americas, 328 units to China, Hong Kong and Taiwan and 353 units to rest of the Asia-Pacific (APAC) region. Compared to the previous year, the dispatches to these regions grew by 9.6%, 26.5%, 79.2% and 29.3% respectively.

In terms of models, sales of V8 powered cars registered a 30.6% growth mainly because of a strong performance by the Portofino. Sales of V12 engined cars grew by 4.1%, led by the 812 Superfast.

In terms of revenue, the Italian manufacturer reported an 11.1% growth in total net revenues at Euro 940 million, including cars and spare parts (18.3%), engines (-23.4%), sponsorships, commercial and brands (-1.2%) and others (11%). The fall in engine numbers is primarily due to reduced supply to Maserati.

Ferrari is planning to unveil 5 models in 2019. The F8 Tributo, which is set to replace the 488, will be the first.