Two years ago, on September 13, 2022, Ferrari surprised the automobile industry by presenting the Thoroughbred: Maranello’s first series-production four-door model, and with a silhouette SUV. Of course, the brand does not exactly consider it an SUV, but it is nothing more than one of the Prancing Horse to compete in the SUV/crossover segment, where other luxury brands such as Porsche, Bentley, Aston Martin, Lamborghini, Maserati y Rolls-Royceamong others.
When it was introduced, the Purosangue immediately caused a stir (read review). The “purists” They considered her a “sacrilege” and not a real Ferrari. Others saw it as a good way to explore new segments, but two years after its launch: what impact did it have on Ferrari’s sales and image?
The “Prancing Horse” is more popular than ever
Motor1.com
Ferrari currently sells more vehicles than ever. According to the semi-annual results, the brand registered a new sales record in the first half of this year, with more than 7,000 units delivered. In total, the Italian manufacturer invoiced 7,044 copies1.2% more than between January and June 2023.
Although this is the lowest growth for this period in the last ten years (not counting the 2020 pandemic), the volume through June 2024 almost doubles the total shipped ten years ago, of 3,694 units.
The growth is notable, considering the high price of Ferraris around the world. To this we must add the growing geopolitical tensions and wars that affect some of its most important markets. However, the reason for the increase in sales cannot be entirely attributed to Purosangue, because its patenting only began at the end of the third quarter of 2023.
The best-selling Ferraris
According to data from the consulting firm JATO Dynamicswhich covers 52 markets around the world, the Thoroughbred it was the third Ferrari best-selling between January and August 2024. The information, which excludes a key market for luxury cars such as the Middle East, indicates that the SUV registered almost 1,500 units until August, only surpassed by the Ferrari 296with more than 3,100 units, and the Ferrari Romewith almost 1,900.
The Purosangue has surpassed the sales of the SF90the 812 Competition and the Portofino (discontinued at the end of 2023), among others. The base price of the Purosangue in Germany is around 380 thousand euros, which is almost 100 thousand euros more than a 296 GTB and 170 thousand more than the Roma Coupe.
Furthermore, the Purosangue sold 28% more than the SF90, but the base price of the latter model was only 16% higher than the former. With the Purosangue, Ferrari undoubtedly increases its income.
Ferrari sales by model
And the brand image?
There is no evidence that the image of Ferrari has deteriorated due to Thoroughbred. The brand is still by far the leader in the supercar segment and makes a lot of money. He EBIT (Earnings Before Interest and Taxes, traducido como “earnings before interest and taxes”) went from 28.3% in the first half of 2023 to 28.9% in the same period of 2024.
Meanwhile, the valuation in the capital markets marks a new record, with a price of almost 450 euros per share on August 30, 2024. Thus, it can be said that Purosangue is already fair to consider as a new financial success of Ferrari.
J.F.M.
*The author is a specialist in the automotive industry at the consulting firm JATO Dynamics.
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