On September 13, 2022, Ferrari shook the automotive world to its core by unveiling the Purosangue, the brand’s first-ever four-door vehicle. Not only was this a radical departure from Ferrari’s traditional supercar lineup, but it marked the automaker’s entry into the competitive SUV segment—though Ferrari has staunchly refused to label it as such. Purists decried it as a betrayal of Ferrari’s heritage, while others saw it as a shrewd move to capitalize on a booming market segment. But two years later, the results are in, and it’s clear: the Purosangue has been nothing short of a resounding success for Ferrari.
Despite the initial controversy, Ferrari is now selling more vehicles than ever before. In the first half of 2024, the luxury automaker set a new sales record, delivering 7,044 vehicles, up 1.2% from the same period in 2023. While this growth rate may seem modest, it’s important to note that Ferrari has nearly doubled its sales volume compared to a decade ago. In 2014, the company shipped just 3,694 units. Considering the geopolitical challenges and the premium price of Ferraris, this growth is remarkable.
The Purosangue, Ferrari’s luxury “SUV,” has played a key role in this sales boom. Although registrations for the vehicle didn’t begin until late 2023, it has already emerged as the third best-selling Ferrari model for 2024, according to JATO Dynamics. Between January and August 2024, Ferrari sold nearly 1,500 Purosangue units, trailing only the 296 GTB (3,117 units) and the Roma (1,870 units). To put this into perspective, the Purosangue has outsold iconic models like the SF90, 812, and the now-discontinued Portofino.
What’s even more impressive is the revenue the Purosangue has generated for Ferrari. With a base price of $423,686—$81,000 more than the 296 GTB and a staggering $176,000 more than the Roma coupe—the Purosangue is not just selling well; it’s driving significant revenue growth. Ferrari has sold 28% more Purosangues than SF90s, even though the SF90’s base price is only 16% higher. This highlights the Purosangue’s critical role in boosting Ferrari’s bottom line.
Here’s a breakdown of Ferrari’s sales figures from January to August 2024:
| Model | Units Sold (2024) |
|---|---|
| 296 | 3,117 |
| Roma | 1,870 |
| Purosangue | 1,489 |
| SF90 | 1,162 |
| 812 | 723 |
| Portofino | 160 |
| Daytona | 133 |
| F8 | 49 |
Beyond the numbers, there’s no evidence to suggest that the Purosangue has harmed Ferrari’s brand image. On the contrary, the Italian automaker remains the undisputed leader in the supercar segment, and its financial health is stronger than ever. Ferrari’s earnings before interest and taxes (EBIT) rose from 28.3% in the first half of 2023 to 28.9% in 2024, and the company’s valuation has reached new heights, with its stock price nearing $474 as of late September 2024.
In the face of skepticism, Ferrari has not only maintained its luxury pedigree but has also successfully expanded into new territory with the Purosangue. The model’s success, alongside other top performers like the 296 and Roma, has ensured that Ferrari continues to dominate the high-end automotive market, both in sales and in brand prestige. The Purosangue has firmly positioned itself as a crucial part of Ferrari’s modern legacy, proving that even for a company steeped in tradition, innovation is the key to continued success.
