Ferrari’s revenue in Q1 2019
In the first quarter, Ferrari’s (RACE) shipments to China, Taiwan, and Hong Kong surged 79.2% YoY, which helped the company boost revenues. Ferrari’s focus on the world’s largest auto market, China, could be critical for its long-term shipments growth prospects. In 2018, the company’s mainland China, Taiwan, and Hong Kong shipments rose by 13.6%. Let’s move on by taking a look at Ferrari’s first-quarter shipments in the Americas and Europe segments.
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Ferrari’s Q1 2019 shipments to the Americas
In the first quarter, Ferrari’s shipments to the Americas rose by 26.5% YoY to 720 car units as compared to 569 units in the first quarter of 2018. In the final quarter of 2018, the company’s shipments to the Americas region stood at 811 units. Note that Ferrari’s Americas market segment includes both North and South America. In 2018, the company shipped 3,000 cars to the Americas region, up 6.7% YoY.
Interestingly, RACE’s annual car sales are much lower than other automakers including Toyota (TM) and General Motors (GM). In 2018, Ferrari shipped 9,251 cars globally, negligible compared to General Motors’ global car sales of over 8.4 million units and Toyota’s massive 10.6 million units. This huge difference in shipments is primarily because of Ferrari’s exclusivity and low volume policy.
Shipments to other markets
In the first quarter, Ferrari reported shipments of 1,209 car units to the EMEA (Europe, the Middle East, and Africa) segment, up 9.6% YoY. The company’s Rest of Asia Pacific segment (excluding China, Taiwan, and Hong Kong) rose by 29.3% YoY to 353 units.
Moreover, Ferrari reported solid double-digit shipments growth for all its key geographical market segments in the last quarter, which helped it boost revenues.