Ferrari NV said its long-term demand remains intact, revealing that its order book is fully committed until 2027, even as the luxury automaker navigates shifting market conditions and a transition toward electric vehicles.
The Italian manufacturer reported third-quarter revenue of €1.77 billion, a 7.4% increase from a year earlier, driven by sustained appetite for its newest models and high-margin personalization programs. Earnings before interest, taxes, depreciation and amortization reached €670 million, outperforming market expectations.
Ferrari said the strong quarter was supported by deliveries of new releases such as the SF90 XX and the 12 Cilindri, alongside continued demand for its bespoke customization offerings—now a core profit driver. The company’s strategy of catering to exclusivity is protecting margins as production of the limited Daytona SP3 supercar winds down and newer, higher-priced models ramp up.
Despite recent volatility in its share price following investor concerns around long-term targets, the company emphasized that its outlook remains solid. Shares rose in Milan after the earnings release, with investors responding to the reassurance that Ferrari is prioritizing controlled growth over volume expansion.
CEO Benedetto Vigna also signaled that Ferrari will not rush the shift to electric vehicles. The first fully electric model, the Elettrica, is scheduled to debut next year, but combustion and hybrid engines will continue to play a central role in the lineup.
Challenges remain in China, where demand for luxury vehicles has cooled, contributing to a 12% decline in third-quarter shipments to the region. However, Ferrari says increased demand in Europe and the U.S., coupled with price adjustments, is cushioning the impact.
As several European automakers grapple with weakening sales and the effects of tariffs, Ferrari continues to operate with the scarcity and pricing power of a high-end luxury brand. Analysts expect margins to dip during the model transition phase but recover once the next round of limited-run specials begins delivery.
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