After Positive Quarter Reports, Ferrari Reveals Its Hybrid Plans

Ferrari car

Ferrari released on Monday both its quarter year reports and its future plans for hybrid models.

Ferrari, the Italian automaker has released on Monday both its quarter year reports and its future plans for the maker’s hybrid vehicles.

Ferrari, the Maranello-based Italian luxury car maker, has released earlier this week its third-quarter reports and revealed better than expected numbers.

The company reported a quarterly profit value of $126 million or 113 million euros and marked a 20 percent increase as opposed to the 2015 same time period.

Following the announcement, the company adjusted its estimated debt values to a sum of fewer than 700 million euros.

The full-year earnings also saw a change in numbers as the initial 800 million euros value was raised to more than 850 million euros. The estimated numbers will see a further diminishing, though, as they do not include taxes, interest, and amortization costs.

The Ferrari revenue has increased by eight percent to a $873.7 million value or 783 million euros, and the car maker group also confirmed its estimated final year revenue value of 3 billion euros.

The Italian carmaker reported a number of 1,978 vehicle shipments, with 29 more as compared to the previous year. The estimated final year, total number of shipped vehicles is expected to rise and come to approximately 8,000 car units.

Ferrari sale numbers showed an increase in their American and European markets, with China registering the biggest increase. However, the rest of the Asian market marked a decrease in sale numbers due to a series of problems with the local shipment carrier which was the cause of a number of logistic delays.

The company’s rise in sale numbers and value is believed to have been helped along by the success of its 12-cylinder engine models. The recently launched convertible, LaFerrari Aperta, the GTC4Lusso four-seat model, and F12tdf are amongst the most notable 12-cylinder models.

Maserati, another luxury brand owned by Ferrari, also registered an increase in revenue, especially in the engine rental and sale area.

Ferrari, who is a well-known competitor in the Formula 1 car races, has been renting or selling both the Ferrari and Maserati engines to other interested Formula 1 teams.

The Ferrari’s Formula 1 rise in results and circuit showings are also believed to have contributed to the company’s increase in sponsorship numbers and also brand earnings.

Following the quarter reports the Ferrari CEO,  Sergio Marchionne also stated the automaker’s intention of enlarging its hybrid car offer.

Ferrari has already released a hybrid vehicle in the form of the 2013 limited release LaFerrari. The vehicle features a hybrid engine with both combustion and electric abilities which were based on their Formula 1 knowledge and experience.

According to Marchionne, by 2019, Ferrari intends to offer a hybrid version for all or at least most of its available vehicle models.

With the Ferrari shares registering a 5 percent rise on the Milan market, to 48.53 euros, the New York trading registered a year increase of over six percent with a 12 months light drop of somewhat more than 1 percent.

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