Ferrari’s (NYSE:RACE) CEO Says GTC4 Lusso Only Car Available
If you are shopping for new Ferraris this year, you have to be lucky and patient.
During Ferrari’s earnings call Thursday, CEO Sergio Marchionne said the company’s production is at full capacity for the rest of this year and well into Y 2019.
The exception is the GTC4 Lusso 2+2 (some call it the most off-beat Ferrari money can buy), “Everything else is pretty well gone,” Mr. Marchionne said.
The strong global demand for the automotive sectors Top brand has driven it to record earnings and an all time high stock price.
In Q-1 Y 2017, the company made $326-M in earnings.
Total shipments for the Quarter totaled 2,128 units, helped by a rise in V-12 models.
Compared to the year ago frame, Ferrari sold 23.5% more V-12 units, led by the 812 Superfast.
The company noted that the HyperSupercar LaFerrari Aperta is about to finish its limited series run.
Looking forward to the rest of the year
Ferrari says it can deliver over 9,000 units, and it plans to invest more than $650-M in capital expenditures like upgrades to its existing production facilities.
Mr. Marchionne has been running Ferrari for the last 14 years, and working another 5-year plan before he retires.
The company will unveil this new plan in September.
Marchionne said his strategy will include details for its upcoming FUV (Ferrari utility vehicle) as well as electric hybrid cars of the future. He is planning to boost profits to $1.3-B this year and exceeding $2.4-B by Y 2022.
As far as acquisitions go, Mr. Marchionne said that Ferrari has no interest in buying another automotive brand, though he left the door open to buying non-auto brands in the luxury goods sector.
Ferrari is a luxury brand.
|NYSE:RACE||137.33||4 May 2018||6.34||134.92||137.45||134.28||1,201,600|
|HeffX-LTN Analysis for RACE:||Overall||Short||Intermediate||Long|
|Neutral (0.21)||Bullish (0.25)||Bullish (0.29)||Neutral (0.10)|
Have a terrific week.