Luxury car manufacturer Ferrari announced on November 2 that its current order backlog extends into 2025, coinciding with the launch of its first all-electric vehicle. In addition, Ferrari has increased its profit expectations for the year.
Ferrari stated that its core profit in the third quarter exceeded expectations, primarily due to continued strong demand for its pricing power and personalized add-ons in its cars. Ferrari's CEO, Benedetto Vigna, stated, "Order intake remains at the highest levels, reflecting strong demand across all regions, with orders covering the full year of 2025."
Vigna informed analysts that, in the coming months, all Ferrari models, with the exception of one, are effectively sold out. He also confirmed that the iconic high-performance gasoline carmaker Ferrari is expected to introduce its first all-electric vehicle in the fourth quarter of 2025.
Currently, this all-electric model is in the prototype stage. The company plans to build a new "ebuilding" in Maranello, northern Italy, with the new facility expected to be operational in June of next year, where the all-electric model will be produced.
Analysts at Bernstein stated in a report, "With new production facilities, potential supercar models, and all-electric models expected to come to the market within the next 24 months, investors believe Ferrari is about to enter another exciting phase in the company's history."
In the third quarter, Ferrari's car deliveries were primarily from the 296 and SF90 series, while the 812 Competizione A and Purosangue four-seat sports cars were still in the production ramp-up phase. The lifecycle of the F8 Spider is nearing its end.
Ferrari's product portfolio in the third quarter consisted of nine internal combustion engine models and four hybrid models. Hybrid models accounted for 51.0% of total deliveries this quarter.
Ferrari currently expects that its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for this year will reach at least €2.25 billion (approximately $2.39 billion), compared to the previous forecast of €2.19 billion to €2.22 billion.
According to media reports, Ferrari's adjusted EBITDA for the period between July and September this year increased by 37% to €595 million, surpassing analysts' expectations of €560 million.
