It’s a sign of the times. Besides the iron-strong profits of the third quarter, Ferrari’s results unveiled that 51% of sales have a plug-in hybrid driveline. It’s the first time in the brand’s history that electrification has outperformed gasoline-only versions. Ferrari further acknowledged that development work on its all-electric model is progressing ahead of schedule. It’s coming in 2025.
Sales at Maranello are currently propelled by the 298 GTB and GTS, alongside the supercar SF90. Both feature a plug-in hybrid driveline, together with a V6 in the first case and a V8 in the latter, which are successors to the brand’s first hybrid experiment, the LaFerrari from 2013. The statistic take-over is symbolic for a brand whose heritage is strongly linked to screaming and gasoline-burning cylinder techno – the more so since hybrids still make out the minority in Maranello’s showroom.
One in five Purosangue
So, electrification is gradually curbing the prancing horse, whose ambition is to offer 40% battery-powered GTs in its line-up by the decade’s end. But the hybrid overweight might be shortlived. As of next year, sales from the SUV Purosangue will be included, which is offered with a combustion-V12 only. Expectations are that it will account for one in five customers.
Behind the curtains, work is continued on the brand’s very first battery-powered sports car. During the presentation of the financial results, CEO Benedetta Vigna said: “Ferrari’s first fully electric model project is going as planned, but for some processes, we are even ahead of schedule.”
Vigna also added that during the third quarter in particular, his company took “a big step forward” in the development of its first BEV fledgling. Details about the disruptive GT remain scarce, and Ferrari plans to keep some of it a secret, even after the official unveiling. “The cell supplier is an important part we want to keep for us,” Vigna commented.
Reaping profits from personalization
In support of its future electric line-up, Ferrari is constructing an e-factory near its plant in Maranello, where it will build electric motors, inverters, and batteries – including hybrids. It opens doors in the summer of next year.
The order books at Ferrari are bursting. They’re full until 2026, while the brand is exponentially leveraging its profit margins through personalization, which is its fastest-growing division. The company has begun expanding customization into second-hand territory, such as the success of one-of-a-kind Ferraris – or at least the feeling.