You can't buy a Ferrari anymore: Here's why and how long you'll need to wait - The Financial Express

You can’t buy a Ferrari anymore: Here’s why and how long you’ll need to wait

Ferrari cars are sold out for 2018 and if you want to buy one its only later in 2019 you will be able to get one. Ferrari attributes this achievement to the success of its V12 engine models that drove about 23.5% increase in sales.

By: | Updated: May 4, 2018 5:37 PM
Ferrari, Ferrari cars,Ferrari sportscar Ferrari

Italian sports car manufacturer Ferrari has exceeded in its sales and profits and the company now confirms that most of the Ferrari cars for 2018 and some part of 2019 have been sold out. Ferrari is running packed with its production this year and beginning next year. However, you can still get the Ferrari GTC4 Lusso, Ferrari's family car confirmed Sergio Marchionne, CEO, Ferrari.

Ferrari shares went up by 3.5% in the U.S after the company announced its financial results. The Maranello based carmaker has seen its net profit going up by 19.4% to €149 million breaking the market expectations. Marchionne, who’s also headed Fiat for the past 14 years, is working on his final business plan for Ferrari before he retires. The five-year strategy will be presented in September. It’ll include details for the iconic Italian brand’s expansion into new segments, including sport utility vehicles and electric hybrid cars.

Ferrari is also silently testing its first hybrid car that will run on both petrol and electric motor. Sergio had earlier said that there will be a silent Ferrari very soon. Ferrari has no plans to produce a fully-electric car before 2022, the company is developing vehicles that will show “the full power of electrification,” Marchionne told Bloomberg Television.

Also Watch Video: Ferrari 488 Hybrid: First Ferrari with no growl, on test!

The shift comes as the manufacturer is targeting annual sales exceeding a self-imposed 10,000-car limit that until now has enabled it to operate under less-stringent fuel-economy rules. Fueling growth, Ferrari has flagged profits will rise to at least 1.1 billion euros this year and to 2 billion euros by 2022.

Marchionne said Ferrari is not considering buying another car brand and could, in theory, acquire non-auto brands in the luxury-goods sector. Still, there is no plan at the moment, he said.

Ferrari Portofino will commence deliveries in Q2 of 2018

Ferrari's overall shipments in Q1 2018 stood at 2,128 units, up 125 units by 6.2% when compared to the Q1 2017. Ferrari attributes this achievement to its 12 cylinder models that drove about 23.5% increase in sales. Ferrari's V8 car sales are in line with last year sales. The V12 strong performance was led by the 812 Superfast.

This was partially offset by the F12berlinetta phase-out as well as the F12tdf that completed its lifecycle in 2017 and lower sales of LaFerrari Aperta that is about to finish its limited series run. V8 performance was supported by the 488 family as well as the GTC4Lusso T and partially offset by the phase-out of the California T. Deliveries of the newly launched Ferrari Portofino will start in Q2 2018.

With inputs from Bloomberg

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.