Previously in this series, we looked at Ferrari’s (RACE) higher shipments to Greater China in 1Q17. The company’s mainland China and Hong Kong shipments were flat in the first quarter, and its shipments to Taiwan rose.
Now, let’s look at Ferrari’s 1Q17 shipments to the Americas region, which includes the United States, its largest single market.
Ferrari’s shipments to the Americas
In 1Q17, Ferrari’s (RACE) shipments to the Americas rose 4.2% YoY (year-over-year) to 545 car units from 523 units in 1Q16. In 4Q16, the company’s shipments to the Americas increased 3.0% YoY. Note that Ferrari’s Americas market segment includes North America and South America.
Ferrari’s sales figures are far behind other top automobile manufacturers (VCR) like BMW (BAMXY), Daimler (DDAIF), Ford (F), and Toyota (TM). This is primarily due to Ferrari’s exclusivity and low volume policy. Among all other regions, the US is considered one of Ferrari’s most loyal markets.
In 1Q17, shipments to Americas contributed 157 million euros (or ~$172 million) in Ferrari’s revenues.
Apart from its ongoing product lineup, Ferrari has always produced limited editions of its supercars. These models are typically launched in seven- to ten-year intervals. Ferrari’s loyal clients and other motorsports enthusiasts eagerly await these limited editions.
In 2016, Ferrari launched the LaFerrari Aperta and the GTC4Lusso in North America. In 1Q17, shipments of the LaFerrari Aperta were limited, and shipments of other models such as the GTC4Lusso, the F12tdf, and the 488 model family witnessed good growth. High demand for these car models should help the company’s shipments grow positively going forward.
Ferrari’s management hinted at the better-than-expected performance of the F12berlinetta, which was another reason for its increased shipments in the Americas in 1Q17.
In the next article, we’ll look at Ferrari’s 1Q17 performance in its home market.