Ferrari has posted a strong first quarter in 2025, with net profit increasing by 17% to €412 million, surpassing analysts’ expectations. The luxury automaker’s revenue grew by 13% year-over-year, reaching €1.8 billion, driven primarily by rising demand for personalized vehicles.
CEO Benedetto Vigna commented, “With only a slight increase in deliveries, all key metrics posted double-digit growth,” noting the favorable product mix and growing interest in customisation options.
Customisation and Brand Revenue Fuel Growth
Ferrari’s revenue from its car manufacturing division saw an 11.1% rise, while sponsorship, commercial, and brand-related revenues surged by 32.1%. This significant increase reflects Ferrari’s ongoing strategy to enhance its brand presence beyond just vehicle sales.
The company’s delivery numbers saw a modest increase of 0.9%, with notable growth in the EMEA (Europe, Middle East, and Africa) region and the United States. However, Ferrari faced a downturn in volumes in Mainland China, Hong Kong, and Taiwan, regions that have faced a mix of economic challenges and changing consumer preferences.
Positive, But Tariff Concerns Persist
For the full year, Ferrari is projecting revenues exceeding €7 billion, marking a 5% increase, with an adjusted operating profit (EBITDA) forecasted to reach at least €2.03 billion, up 7% or more. These figures reflect the company’s strong momentum and continued global appeal.
Despite these optimistic projections, Ferrari issued a cautionary note regarding potential impacts from U.S. import tariffs on EU vehicles. The company has warned that these tariffs could reduce profit margins by up to 50 basis points. In response to the tariffs, Ferrari had previously announced price hikes of up to 10% on select models in March, in anticipation of the 25% tariffs imposed by former U.S. President Donald Trump.
Focus on New Models and Electrification
Ferrari’s commitment to innovation remains strong, with plans to launch six new models in 2025, including the 296 Speciale, 296 Speciale A, and its highly anticipated first electric vehicle, the Ferrari Elettrica. These new models are expected to drive further demand, particularly as the automotive market shifts toward electrification.
Following the announcement of these results, Ferrari’s shares rose 1.8% on the Euronext Milan stock exchange, signaling investor confidence in the company’s strategy and future growth prospects.
As Ferrari continues to innovate and respond to market demands, it is poised to maintain its position as a leader in the luxury automotive sector. However, challenges such as the evolving trade landscape and the shift toward electric vehicles will require careful navigation. With a strong pipeline of new models and a focus on customisation, Ferrari is well-positioned to adapt to these changes and continue delivering value to its shareholders.
