Ferrari raises full-year guidance as demand for personalization remains strong

Ferrari again raised its full-year guidance, citing stronger-than-expected demand for personalization, lower currency headwinds and increased third-quarter deliveries of newer, more profitable models. The company expects revenue of about €8.56 billion, up from a previous estimate of around €7.6 billion, and adjusted earnings of up to €2.29 billion; a host cited a 30% margin. Ferrari delivered 3,368 cars to customers during the quarter, 33 fewer than a year earlier. The company said its order book extends into 2028 and that two more launches were planned before year-end. The participants were unsure which models the two launches referred to; they speculated about the Luce and a road-legal version of the 296 GTB Challenge.

Deliveries of the Amalfi, 296 Speciale, 12Cilindri Spider and Purosangue increased, while deliveries of the 849 Testarossa and 296 Speciale Aperta continued to ramp up. Deliveries of the 849 Testarossa Spider began, and F80 shipments progressed as planned. Ferrari also phased out the Roma Spider, 296 GTS and SF90 XX family. Shipments rose by 38 vehicles in Europe, the Middle East and Africa, by 5 in the Americas and by 29 in the rest of Asia, but fell by 105 in mainland China, Hong Kong and Taiwan.

The speakers suggested that a local market downturn or stronger competition from Chinese automakers might have affected demand in China; Chinese cars may rival supercars on specifications such as 0-to-60 mph acceleration. They also speculated that buyers in China might have less reason to wait for the forthcoming Ferrari Luce if Chinese EVs, including BYD, offer comparable performance. These were proposed explanations, not established causes. In a discussion of the 849 Testarossa’s styling, one participant offered the personal view that it looks much better in customers’ individual specifications—especially all black—than in the version used for its presentation.