Sales for V12-powered Ferraris are up by 50 percent, but V8s are on the decline.
Automakers have been releasing their end-of-month sales figures for April, and unsurprisingly trucks and SUVs continue to dominate the market. It’s not all doom and gloom for gearheads, however, because sports cars have also seen a surge in sales. reports that sales for small sports cars like the Mazda MX-5 Miata and Toyota 86 were up more than three percent for the first three months of 2017 compared to the previous year. Swanky supercars are also apparently selling well.
Ferrari’s profits are up by 36 percent for the first quarter of 2017 compared to last year. According to Automotive news, Ferrari’s gross first quarter earnings are up to 242 million Euros ($265 million) – that’s 64 million Euros more than the Italian manufacturer made during Q1 of 2016. Apparently, a lot of this growth can be attributed to customers catching Ferrari fever, thanks to the influx of special edition cars and limited production models released this year to commemorate the carmaker’s 70th anniversary. The ultra-exclusive $2.1 million limited to 209 units, for example, sold out before it was officially announced.
This helped solidify Ferrari’s image of performance and exclusivity. Meanwhile, the unveil of the new has helped drive growth, not surprising given it’s the fastest production car in the Ferrari fleet succeeding the F12 Berlinetta before it, with a 6.5-liter V-12 that produces 789-hp, a top speed of 211 mph and a 0-62 mph time of 2.9 seconds. To attract a wider range of customers, CEO Sergio Marchionne plans to widen Ferrari’s lineup and is considering more hybrid models and less-powerful vehicles, including a new V6-powered car. While demand for V12-powered Ferraris surged 50 percent in the first quarter, V8-powered cars are on the decline according to the automaker.
While production was previously capped to 7,000 units per year, things are going so well for Ferrari right now that the automaker is on track to sell 9,000 cars per year globally by 2019. And who says supercars with big engines are a dying breed?