It's no surprise that one of the world's most recognisable brands and status symbols is making some coin, but Ferrari are doing more than just that. According to the company's financial statements and some maths by Whichcar, Ferrari is making around $110,000 in clean profit on each vehicle it sells. Given the price point of their product that may not seem like a ridiculous amount of money, but the gravitas of Ferrari's margin truly comes to light when compared with its peers.
A report by German economics professor Ferdinand Dudenhoffer analysing Q1 2018 financial results revealed that Porsche is raking in roughly $28,500 per vehicle sold, which looks comparatively pedestrian next to Ferrari. The other three heavy-hitting German marques - Audi, BMW and Mercedes-Benz - supposedly come in around the $19,500 per car mark. Further down the line is our much-loved Jaguar Land Rover, which netted only $1,340 per vehicle, although bear in mind that the study was conducted before their announcement of financial troubles earlier this year.
Of the two popular manufacturers that bring up the rear, one is a surprise and one is not. For a brand that retails its products for well over $400,000, Bentley’s $28,500 loss on every car sold is a confusing one to stomach. However, this could be put down to the pots of cash they are throwing into their electric car R & D program. Good old Tesla, which Elon Musk just announced would run out of liquid capital in 10 months, is burning roughly $18,400 for every car it sells. Mounting electric offensives from the likes of Merc’s EQC, Jaguar’s I-Pace, Audi’s E-tron could spell trouble for Tesla as it loses its biggest competitive advantage.
Rolls Royce and Lamborghini tend to play their cards close to their chests by not releasing their full financials and were not included in the study.
According to Whichcar's analysis of Ferrari’s income statement for Q1 2019, Maranello shipped 2610 vehicles for the period, a 23% increase from the same period in 2018. It appears as though strong demand for the entry-level Portofino is driving the numbers, as it accounted for a 30.6% increase in V8 sales.
Overall, Ferrari collected $1.52 billion in revenue, with inflows primarily coming from vehicle sales and spare parts ($1.19 billion), engine sales to Maserati ($93 million), and sponsorships/commercial activities ($207 million). These revenues translate to a net margin of 19.2%, which looks decidedly plump alongside BMW’s 7.33% effort for the same metric over 2018.
With five cars set to be released this year, including the recently-unveiled F8 Tributo, the Prancing Horse is certainly looking high and mighty - but then again, when has it not?
All currencies are quoted in Australian Dollars.