Ferrari doubles its sales in the first two quarters of this year

After a year of turmoil, it seems like the rich are still getting richer. After Bentley’s last week’s announcement of its tremendous success in the first half of 2021, another luxury automaker Ferrari has already doubled its sales compared to the whole of 2020.  The Italian manufacturer has sold 2,685 units in the first half of the running year.

“The excellent second quarter confirms the strength of Ferrari and its unique business model,” says the company’s CEO John Elkann. He also added saying, with each Ferrari being unveiled, the brand is setting new benchmarks for innovation, beauty and distinctiveness. The company is turning 75 in 2027.

The sales figure has brought in $1.23 billion in revenue. This is 5.2% higher compared to 2019. The success has come through Ferrari’s limited-edition Monza and the newly released hybrid 296 GTB which was only unveiled earlier this year.

According to a Reuters report, in reaction to the European Union’s (EU) impending ban on the sale of new petrol and diesel cars from 2035, the world-famous Italian automaker welcomes the shift to electric cars and remains confident that the brand will steer its way through continued success in building high-performance cars.

John Elkann is set to step down as the CEO in the upcoming month, in order to make room for former microchip industry veteran Benedetto Vigna to help Ferrari transition into being fully electric. Vigna’s task will be to forge new partnerships to help with the shift to a new electric era. He is set to become the new CEO from September 1.