Overview
Ferrari N.V. is a luxury performance company focused on the design, engineering, production and sale of luxury performance sports cars. The company also extends the Ferrari brand through racing and lifestyle activities, including participation in Formula 1 and endurance racing, selected licensing of luxury and lifestyle goods, and certain financing arrangements that support new and pre-owned vehicle sales. Ferrari describes itself as one of the world’s leading luxury brands, spanning racing, sports cars and lifestyle.[1][2]
Ferrari’s cars are designed, engineered and produced in Maranello and Modena, Italy, and the company sells in approximately 60 markets worldwide through 180 authorized dealers operating 200 points of sale. Its commercial organization is structured across four principal geographic areas: EMEA, the Americas, Mainland China/Hong Kong/Taiwan, and the rest of Asia-Pacific.[1][3]
Ferrari frames its mission around carrying forward Enzo Ferrari’s legacy through innovation, continual progress and the ambition to redefine the limits of what is possible across its racing, sports car and lifestyle activities. In 2024, Ferrari reported net revenues of €6,677 million and employed 5,435 people as of December 31, 2024.[4][5][6] [1][2][3][4][5][6]
Products & services
Ferrari’s product lineup is centered on road cars in four pillars: Range, Special Series, Icona and Supercar. In the current portfolio, the Range models are Roma Spider, Purosangue, 12Cilindri, 12Cilindri Spider, 296 GTB, 296 GTS and SF90 Spider; Special Series models are 812 Competizione A, SF90 XX Stradale and SF90 XX Spider; the Icona model is Daytona SP3; and the Supercar is the F80.[7] Ferrari describes the SF90 Spider as a plug-in hybrid with a 780 hp V8 and three electric motors for total output of 1,000 hp, while the 296 GTB and 296 GTS use Ferrari’s first 6-cylinder road-car engine, a 120° V6 paired with an electric motor for 830 hp total.[8] Other core models include the Roma Spider at 620 hp, the V12 Purosangue at 725 hp, and the 12Cilindri and 12Cilindri Spider at 830 hp each; Ferrari also identifies the Purosangue as its first four-door, four-wheel-drive and four-seater car.[8][9] In 2024, Ferrari said its portfolio comprised ten ICE models and six hybrid models, with hybrids representing 51.3% of shipments and ICE models 48.7%.[10]
Ferrari’s limited-run products emphasize higher performance and exclusivity. The Special Series line includes the SF90 XX Stradale and SF90 XX Spider, which Ferrari calls its first road-legal XX cars; the coupe is stated to reach 0-100 km/h in 2.3 seconds and 0-200 km/h in 6.5 seconds, and to hold a 1:17.3 Fiorano lap time for street-legal cars.[11][12] In the Icona line, the Daytona SP3 is a strictly limited targa inspired by 1960s Ferrari sports prototypes and uses a naturally aspirated V12 producing 840 hp and 697 Nm, with a 9,500 rpm redline.[13] Ferrari also develops track-only cars derived from its range and special-series models for use in programs including XX Programme, Ferrari Challenge, F1 Clienti and Sport Prototipi; in 2024 it added the 499P Modificata to the new Sport Prototipi Clienti program.[14][15] At the top end, Ferrari describes the F80 as a hybrid supercar and says it can be customized through Tailor Made, including exposed carbon fiber and 26 different color finishes.[16]
Ferrari’s services around the cars include personalization, after-sales support, heritage services and financing. Cars and spare parts generated €5.728 billion in 2024, equal to 85.8% of net revenues, and this category includes vehicle shipments, personalization on those cars and spare-parts sales.[17][18] Personalization options include body paints, liveries, leather and Alcantara interiors, carbon-fiber parts, titanium exhaust systems, parking cameras, dual-mode suspension and high-fidelity audio systems; Ferrari offers these through Special Equipment & Atelier, the Tailor Made program, and the One-Off program for unique single cars based on existing Ferrari chassis and engines.[19][20][21] After-sales services are provided through 252 facilities worldwide and include a free 7-Year Maintenance Program on new cars, Warranty Extension from years 3 to 7, Power Warranty coverage through year 16, and a hybrid-specific extension for SF90 and 296 models through year 8 that includes high-voltage battery replacement in the eighth year.[22][23][24][25][26] Ferrari Classiche adds authenticity certification, restoration and maintenance for cars over 20 years old, and Ferrari Financial Services provides retail financing for vehicle purchases.[27][28][29] [7][8][9][10][11][12][13][14][15][16][17][18][19][20][21][22][23][24][25][26][27][28][29]
Geographic presence
Ferrari organizes its commercial activities into four geographic areas covering its principal end markets: EMEA, the Americas, Mainland China/Hong Kong/Taiwan, and the Rest of APAC.[3] In 2024, shipments were weighted toward EMEA at 45.1%, followed by the Americas at 29.1%, Rest of APAC at 17.4%, and Mainland China/Hong Kong/Taiwan at 8.4%.[30] Net revenues in 2024 were geographically distributed as €462.8 million in Italy (about 6.9% of total), €2.69 billion in the rest of EMEA (40.3%), €2.18 billion in the Americas (32.7%), €539.5 million in Mainland China/Hong Kong/Taiwan (8.1%), and €800.3 million in the Rest of APAC (12.0%).[31]
Ferrari’s operating footprint is concentrated in Italy. Its principal manufacturing facility is in Maranello, Modena, and the Maranello site hosts the corporate offices and most facilities for design, development and production; production facilities are located in both Maranello and Modena, Italy.[32][33][34] At December 31, 2024, Ferrari had 5,435 employees, of whom 5,088 were based in Italy and 347 were based in offices around the world, mostly in North America and China; 93.6% of employees worked in Italy, which the company identifies as its only significant location of operation.[35][36] Outside Italy, its subsidiary and branch footprint includes entities in the United States, Japan, Australia, China, Hong Kong, Singapore, France, Germany, Switzerland, and the United Kingdom.[37] [3][30][31][32][33][34][35][36][37]
Business segments
Ferrari states that it has one operating and one reportable segment, with resource-allocation and performance decisions made on that basis by the Chief Operating Decision Maker, so it does not officially break the business into multiple IFRS operating segments.[38][39] Instead, it disaggregates net revenues into product and activity categories, led by Cars and spare parts, which represented about 85.8% of 2024 net revenues (€5,728 million of €6,677 million).[40][17] This category reflects Ferrari’s core vehicle and spare-parts activities, with revenue influenced by product and country mix and personalization content.[41] Sponsorship, commercial and brand contributed about 10.0% of 2024 net revenues (€670 million), covering sponsorship agreements, commercial activities and brand management, with growth linked to new sponsorships and lifestyle activities.[42][17] Other net revenues accounted for about 4.2% (€279 million), and in 2024 this line included higher financial services revenues while also absorbing residual engine sales after the Maserati engine supply contract expired.[43][44][17]
A secondary, non-segment disclosure is customer geography. For 2024, Ferrari’s net revenues were weighted toward Rest of EMEA at about 40.3% (€2,690.6 million) and the Americas at about 32.7% (€2,183.4 million), followed by Rest of APAC at about 12.0% (€800.3 million), Mainland China/Hong Kong/Taiwan at about 8.1% (€539.5 million), and Italy at about 6.9% (€462.8 million).[45][31] Historically, Ferrari also disclosed engines separately within its broader cars, spare parts and engines activities; for example, engines generated €127 million in 2023 before the Maserati contract expired at the end of that year.[46][47][48] [38][39][40][17][41][42][43][44][45][31][46][47][48]
Company history
Ferrari’s history began in 1929, when Enzo Ferrari founded Scuderia Ferrari in Modena as a racing team, and in 1939 he established Auto Avio Costruzioni after leaving Alfa Romeo and being temporarily unable to use his own name on cars.[49][50] In 1947, Ferrari produced the 125 S, its first racing car, and in 1948 it introduced the 166 Inter, its first road car.[51] Ferrari entered the Formula 1 World Championship in 1950 and won its first Formula 1 championship in 1952 with Alberto Ascari.[52][53]
A major ownership change came in 1969, when Fiat acquired a 50 percent stake in Ferrari S.p.A.; that stake increased to 90 percent in 1988 following Enzo Ferrari’s death, with the remaining 10 percent held by Piero Ferrari.[54] Ferrari’s corporate structure changed again in 2015-2016: New Business Netherlands N.V. was renamed Ferrari N.V. on October 17, 2015, Ferrari shares began trading on the New York Stock Exchange on October 21, 2015, and the separation from Fiat Chrysler Automobiles was completed on January 3, 2016.[55][56] [51][54][55][56][49][50][52][53]
Sources
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