Ferrari NV posted stronger-than-expected fourth-quarter results, bolstered by robust U.S. demand despite broader struggles in the luxury auto market. Sales climbed 14% year-over-year to $1.8 billion, while earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 15% to €643 million or roughly $666 million. Both figures exceeded analyst forecasts.
The strong performance sent Ferrari shares up as much as 6.2% in Milan on Tuesday, contributing to a nearly 25% gain over the past 12 months. The automaker has largely avoided the challenges facing the broader car industry, though potential U.S. tariffs under President Donald Trump could pose future headwinds. The U.S. remains Ferrari’s largest market, accounting for one in four vehicles sold.
Ferrari’s 2024 shipments inched up 1% to 13,752 units, driven by demand for the Purosangue, Roma Spider, and 296 GTS. While sales in the Americas rose 8% in the fourth quarter, China saw a steep 38% decline, deepening its slowdown in the region.
Despite its strong results, Ferrari issued conservative guidance for 2025, forecasting sales above €7 billion/$7.25 billion and adjusted earnings of at least €2.68/$2.77 billion. However, CEO Benedetto Vigna expressed confidence that growth will remain robust, potentially allowing the company to reach the upper end of its 2026 profitability targets a year early.
Ferrari continues to expand its ultra-luxury lineup, unveiling a €3.6/$3.7 million supercar in October. The company is also set to launch its first fully electric vehicle in the fourth quarter of 2025.
