Last year’s Formula 1 season was a frustrating disaster for Ferrari, but the same cannot be said for the iconic Italian marque’s supercar manufacturing business; in fact, their fortunes were in complete contrast to each other. Financially, the Maranello-based automaker had a record-breaking 2022 and it’s passing on some of its fortunes to its hardworking employees by handing out fat bonus cheques. Ferrari’s Chief Executive Officer Benedetto Vigna said that the company’s 5,000-plus employees will receive bonuses as high as €13,500 (around $15,000), which equates to about a 12.5 percent jump over the year before.
According to last year’s finical report released by Ferrari, the company delivered a record 13,221 cars, which represents a stellar growth of 18.5 percent compared to 2021. This helped Ferrari accumulate a net profit of a little over $1 billion. Interestingly, the impressive sales performance doesn’t even include the manufacturer’s highly anticipated SUV, the Purosangue, which will start reaching customers sometime later this year. The high-riding Ferrari is predicted to become the manufacturer’s best-selling model and significantly bump up the sales figures for this year and beyond. The company’s CEO claimed Purosangue’s demand “has been extraordinarily high; well beyond expectations.” As a matter of fact, the build slots for the Ferrari SUV have been sold for at least the next two years, forcing the Italian brand to temporarily stop accepting new orders.
The record-shattering sales performance predictably has had a positive effect on Ferrari’s stock price which has sky-rocketed over the last few months. After dipping down below 170 euros (about $185) in the middle of 2022 due to a market-wide selloff, the Ferrari stock recently managed to hit an all-time high of 247 euros (roughly $270). In fact, the Ferrari stock price has gone up by 280% since it debuted on the exchange back in 2016, making it a better-performing investment asset than some of the most collectible cars built by the iconic manufacturer.
