2024-08-04 08:57:33
This is one of the results of the increase in the number of wealthy people in the world since the Covid-19 pandemic. Luxury car sales have increased in recent years, especially for Ferrari. The prancing horse symbol is recording amazing financial results.
Published on: 04/08/2024 – 10:57
1 min
The Italian manufacturer’s net profit jumped almost 25% in the second quarter of this year. The brand expects to record a turnover of over 6.5 billion euros for 2024, exceeding its initial forecasts.
The famous prancing horse brand delivered a total of 3,484 vehicles worldwide during the April-June period, an increase of 2.7%, the manufacturer indicated in a press release.
« Our revenues and profits grew by double digits », is mainly supported by “ increased demand for personal » models, which allow the group to review its annual goals upwards, explains CEO Benedetto Vigna.
Its rival Lamborghini is doing well, too.
A competitive market
On the other hand, in a very competitive market, and above all compared to real cars, British Aston Martin also recorded losses and Maserati saw its sales almost halved at the beginning of the year. The exact reason is the sharp decline in the market in China.
Since 2020, the number of ultra-rich people in the world has increased and so have luxury car sales, before slowing down a bit last year. The market for the most expensive cars, worth more than 500,000 euros, can grow by approximately 15% per year through 2030, the company McKinsey estimated last year.
In 2026, the manufacturer expects annual revenues of up to 6.7 billion euros, according to its strategic plan presented in June 2022.
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