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Sales of Ferraris with hybrid engines have overtaken those of traditional models for the first time, a seminal moment for a brand inextricably linked with supercars driven by noisy, powerful engines.
Some 51 per cent of Ferrari’s cars sold between July and September were hybrid, compared with 43 per cent in the previous three months and just 19 per cent a year ago.
Four of the 13 models offered by Ferrari in the quarter were hybrids. Ferrari’s three-month sales were driven by the 296 GTB and GTS supercars, which are hybrids that also use a V6 engine, as well as the top-end SF90 hybrid hypercar.
A steady increase in production of its non-hybrid Purosangue, a V12 engine powered high-riding vehicle, means that the hybrid sales may drop back below engine-only models in a future quarter. The supercar brand does not expect to launch its first fully-electric model until 2025.
The company has promised that 40 per cent of its line-up will be battery-only cars by the end of the decade, but has refused to put an end date on production of engine-only models.
An increase in the number of Ferrari customers paying extra for custom features such as highly coloured brake callipers led the brand to upgrade its annual profit expectations again on Thursday.
The business made €332mn in net profit between July and September, 46 per cent higher than the same period a year earlier. While car deliveries only rose 9 per cent to 3,459, revenues climbed 24 per cent to €1.5bn, with higher margins from an increase in “personalisations”.
It now expects adjusted earnings for the year to be €1.57bn, up from previous guidance of €1.51bn-€1.54bn. Bernstein auto analyst Daniel Roeska said the company’s raising of profit expectations was “Groundhog Day”.
Ferrari said its cars were now sold out until 2026 and “[the] order book remains at highest levels reflecting strong demand across all geographies”.
Sales in Europe, the Middle East and Africa — its largest region — rose 8 per cent to 1,398 cars, while sales in the Americas rose by a fifth to 1,096 cars.