Car sales flat? Not for Ferrari

DESPITE SEVERAL carmakers feeling the brunt of reduced consumer spending around the world, the boys and girls over in Maranello must be smiling from ear to ear.

2018 was another high-octane year for Ferrari, with sales increasing by 10% and profits by 46%, driven by a surge in V12 sales and vehicle personalisation.

Last Thursday, the supercar specialist announced a 2018 net profit of 787 million euros (R12 billion), up from 537 million (R8.1 billion) in 2017, while overall sales grew to 9251 units, from 8398 the previous year.

Sales of V12 models surged by 20%, however, led by demand for the 812 Superfast, and in spite of slower sales of the LaFerrari Aperta, which was in its run-out phase anyway.

Sales of Ferrari’s V8s rose by 8%, largely thanks to the ramp up of the Ferrari Portofino as well as the new special series 488 Pista.

The majority of Ferrari sales took place in the EMEA (Europe Middle East and Africa) region, which accounted for 4227 units, with the Americas second (3000) and China a distant third at 695.

Ferrari was recently named the world’s strongest brand in the Brand Finance Global 500 2018 report, released at the recent World Economic Forum in Davos.

With a Brand Strength Index of 94.8 out of 100, it overtook the likes of McDonalds, Coca-Cola and Disney.

- Motoring Staff