Even Without an SUV, Ferrari Had Its Best Year in 2022

Driven by a jump in sales in Asia and the Americas, Ferrari raked in $1B in profits in 2022.

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Even Without an SUV, Ferrari Had Its Best Year in 2022 © Even Without an SUV, Ferrari Had Its Best Year in 2022

It's an excellent time to sell mechanical, prancing horses because exotic automaker Ferrari just had a record year financially—despite not having an SUV on the lots like others including Bentley and Lamborghini. According to its 2022 results released by Ferrari, the world's most famous supercar firm delivered 13,221 cars, accumulating a net profit of a little over $1 billion (939 million Euros).

Compared to 2021, that's an 18.5% increase in units sold and a 19.3% growth in net revenue, which came in at approximately $5.5 billion. As a result of this, er, result, Ferrari CEO Benedetto Vigna is anticipating an "even stronger 2023, fuelled by a persistently high demand for our products worldwide." Surely fueling Vigna's confidence is because 2023 will see the launch of the Purosangue SUV, the first high-riding four-door Ferrari ever, and the model poised to take the brand's sales to even newer, higher heights.

Even without a money-printing SUV in its portfolio, Ferrari's banner 2022 came on the back of booming sales in China and (to a lesser extent), the Americas. Sales in mainland China, Hong Kong, and Taiwan jumped a whopping 73% over 2021 to 1,552 units sold while Ferrari's buyer base in the North, Central, and South America grew by 22% to 3,447 cars. Despite that, Europe remains Ferrari's largest market by a good margin, with 5,958 vehicles sold in 2022.

Broken down by model, sales were reportedly driven by the entry-level Portofino M as well as the SF90 hybrid. Pure internal combustion cars still amount for the majority of Ferrari sales—78% to be precise—but electrified offerings are expected to make up more and more of the pie in the future.

Now, if only Ferrari could channel some of that showroom success onto the race track.

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