Image: Ferrari

Ferrari released the company’s Q1 earnings reports Tuesday, and the results are astonishing. While most of the rest of the automotive industry is having difficulty finding buyers, Ferrari shipped nearly 23% more cars in the first quarter of 2019 than it did in the same period last year. That equates to a total of 2,610 cars in three months, and puts Ferrari on track for a record sales year.

Much of that growth is accounted for in Portofino sales, as the front-engine V8 entry-level Ferrari is, by all accounts, a good car, and is selling accordingly. As the 488 reaches the end of its lifecycle, that model has started to trend downward, but the high-performance Pista version is selling strong.

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Ferrari has already shown off the 488's replacement in the F8 Tributo, above, but the company’s sales report officially confirms that four additional models are coming by the end of 2019. It would seem that Ferrari is following a McLaren-esque path, as two additional mid-engine sports cars have been teased—expect one of them to be an open top F8 Tributo—and two models aimed at a more mature customer looking for a grand touring car or an ultra-lux.

Ferrari VP of Marketing Enrico Galliera has already confirmed to Australia’s WhichCar that the Ferrari SUV “Purosangue” project is not set to be among the five 2019 launches, so look for that in the coming years. Because Ferrari calls the F8 “first of 5 models to be unveiled in 2019" I am taking that to mean that the company is also not including last month’s one-off P80/C in that five.

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It seems that Ferrari has managed to crack the Chinese market this year, as sales in that region increased by 79% (from 183 units to 328) while other manufacturers are struggling to reach the Chinese audience this year. Ferrari sales continue to be highest in Europe/Middle East/Africa, which the company considers a single region, followed closely by the Americas.

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I guess it’s a good time to be catering to a wealthy customer base.

Via: Automotive News