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During the first nine months of 2024, Ferrari F1 profit was$ 531 million. Ferrari is now following in the standings for constructors.
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Ferrari, an Italian luxury brand, released third-quarter financial results on Tuesday that showed a 7 % increase in revenue ($ 1.79 billion based on exchange rates ) versus the same period last year.
Shipping declined 2 % to 3, 383 cars—by contrast, Toyota sold 2.75 million units during its latest quarter. But Ferrari is a high-margin business that generates more than$ 100, 000 in profit per car.
” We always said we give a goal to the quality of income, not to the quantity”, Benedetto Vigna, Ferrari CEO, said during the income visit. You should examine the development of our business strategy in this manner as well.
Auto sales represent 86 % of Ferrari’s profit in 2024, but the monthly financial benefits also provide a window into the company’s Formula 1 procedures, which are 10 % of the organization. Ferrari F1 revenue was$ 190 million for the third quarter, up 20 % over the prior year. The benefit was attributed to the company’s new subject partnership with HP. In April, the organizations announced a new multiyear funding deal.
For the first nine months of 2024, Ferrari F1 revenue was$ 531 million, up 15 % over 2023. The company also includes its World Endurance Championship organization as well as its merchandising and licensing net revenues.
Ferrari is the most important F1 staff and most decorated on the monitor, with 16 builder or group titles—Williams is following all-time at nine. However, Ferrari’s last name was in 2008, with Mercedes and Red Bull combining for the last 14 names.
Ferrari does n’t have a shot at the drivers ‘ title this year. Charles Leclerc is second in the standings, 86 details behind Red Bull’s Max Verstappen, who roughly cemented his third straight finals with a gain on Sunday in Brazil. Leclerc’s partner, Carlos Sainz, is second in the status, which still gives Ferrari a photo at the builder name. It now sits 36 details behind McLaren Mercedes.
” The new victories and advancements in Austin and Mexico City have given us the motivation we need to fight in the final few tribes of the championship,” said Vigna. The path leads to Abu Dhabi’s final destination, where we will work together until the very last lap.
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