Ferrari has started 2025 with tremendous force and excellence. They rejoiced at a 17% increase in net profit, hitting €412 million in only the first three months of the year. The luxury sports car manufacturer recently toasted its own milestone. For Q1 2025, they announced a 13% jump in net revenues, to €1.8 billion from the same quarter of 2024. Indeed, the company has warned that new tariffs—especially on Chinese imports—might begin to squeeze their profitability in the second half of this year.
The Italian automaker expects net revenues to increase by 5% year-on-year for the full year of 2025, on track to exceed €7 billion. Adjusted operating profit is expected to be around €2.03 billion, Ferrari added. That would be a very positive sign indeed, implying strong growth of at least 7% for the year as a whole.
In Q1 2025, prancing horse’s revenues from sponsorship, commercial and brand activities jumped 32.1%. Equally strong was the car-making segment, which saw revenues expand by a stunning 11.1%, driven almost entirely by increased demand for vehicle customizations. Collectively, shipments experienced a slight uptick of 0.9% over the course of the first quarter.
Ferrari recently announced its record sales numbers. They made news with a planned increase of up to 10% on some models, a response to the 25% tariffs on European car imports enacted by the former U.S. administration. The firm noted that the company already warned these tariffs could negatively impact margins in the back half of 2025. Ferrari had previously sent a fierce shot across the bow. In fact, they fear that passing new import tariffs might reduce their profit margins by 50 bps.
Ferrari CEO Benedetto Vigna congratulated the company’s excellent second quarter and highlighted priority markets.
“Another year is off to a great start,” – Benedetto Vigna, CEO of Ferrari
He further elaborated on the company’s success in the first quarter:
“In the first quarter of 2025, with very few incremental shipments year on year, all key metrics recorded double-digit growth, underscoring a strong profitability driven by our product mix and continued demand for personalisations.” – Benedetto Vigna
Ferrari experienced a drop in deliveries to Mainland China, Hong Kong and Taiwan for Q1 2025. This steep decline may pose significant hurdles for the brand in those markets long-term. In fact, demand in the EMEA region and the U.S. drove this quarter a remarkable growth for Ferrari.
Soaring production This year, they expect to release six new models, including the recently announced 296 Speciale and 296 Speciale A.
“We continue to enrich our product offering – in line with our plans – with six new models this year, which include the newly launched 296 Speciale, 296 Speciale A and the much-anticipated Ferrari elettrica through a unique and innovative unveiling,” – Benedetto Vigna
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