Ferrari CEO Says GTC4 Lusso Only Car Available
Production is firing on all cylinders with most models sold out well into 2019.
If you’re among the chosen few lucky enough to be shopping for new Ferraris this year, I hope you’re patient. According to Bloomberg, during Ferrari’s earnings call Thursday, chief executive officer Sergio Marchionne said the company’s production is at full capacity for the rest of this year and part of next year. The exception being availability of the 2+2 GTC4 Lusso. “Everything else is pretty well gone,” Marchionne said.
That sort of huge, global demand for the brand has helped it hit record earnings. Last quarter alone, the company made $326 million in earnings. Total shipments for the quarter totaled 2,128 units, helped by a big jump in V12 models. Compared to the year ago period, Ferrari sold 23.5 percent more V12 units, led by the 812 Superfast. The company noted that the LaFerrari Aperta is about to finish its limited series run.
Looking forward to the rest of the year, Ferrari thinks it can deliver over 9,000 units. Further, it plans to invest more than $650 million in capital expenditures like upgrades to its existing production facilities.
Marchionne has been running the show for Ferrari for the last fourteen years. He’s working on one more five-year plan before he retires. The company will unveil this plan in September. Marchionne said his strategy will include details for Ferrari’s upcoming sport utility vehicle as well as electric hybrid cars of the future. The CEO is hoping to boost profits to $1.3 billion this year and exceeding $2.4 billion by 2022.
As far as acquisitions go, Marchionne said that Ferrari has no interest in buying another automotive brand. However, he left the door open to buying non-auto brands in the luxury goods sector.