Ferrari Raises Full-Year Guidance as First EV Luce Sells Out Through 2027
Ferrari reported strong Q3 results and raised its annual profit forecast, with CEO Benedetto Vigna confirming that all planned production of its controversial first electric car, the Luce, is already allocated for 2027.
Italian sports car maker Ferrari N.V. reported third-quarter revenue of €1.9 billion, up 7% year-on-year, and net income of €431 million, up 13%, in its earnings release on November 3. Buoyed by strong sales of existing models and high-margin personalization options, the company raised its full-year adjusted earnings guidance to at least €3 billion (approx. $3.36 billion), up from €2.97 billion.
Despite initial criticism and stock price pressure following the May debut of the Luce, Ferrari’s first electric vehicle, demand has remained robust. CEO Benedetto Vigna stated during the earnings call that the 2027 production run of the Luce is “fully allocated,” meaning every car planned for next year already has a buyer. “If someone comes, he has to wait one year to get the cars,” Vigna said. The first deliveries are expected to begin in the fourth quarter.
Ferrari has not publicly disclosed the exact number of Luce units produced or sold. Earlier reporting by the Financial Times, citing unnamed sources, indicated plans to sell just under 500 units this year, with a longer-term target of 2,500 units by 2030. Vigna noted that the customer base for the Luce represents a “good mix” in terms of client type and geography, without a specific demographic pattern.
Financial data highlights the growing importance of customization, which accounted for more than 21% of revenue from cars and spare parts. This trend underscores how Ferrari maintains its industry-leading operating margins—29.7% in Q3—and brand exclusivity, protecting profitability even as it navigates the transition to electrification.