Ferrari delivered 1,389 sports cars in the second quarter, down 48 percent from the same period a year earlier. Net profit fell by 95 percent to 9 million euros, the Italian manufacturer announced on Monday. Ferrari is therefore adjusting its profit forecast for 2020 downwards.
In addition to sales and profit, turnover also declined. Ferrari recorded 571 million in the second quarter, a contraction of 42 percent. In the first half year, sales of the Italian brand fell by 22 percent to 1.5 billion euros.
For the full year, Ferrari is now counting on a turnover of 3.4 billion euros, while in May it still projected 3.6 billion euros. The brand expects an operating profit of up to 1.125 billion euros in 2020 instead of 1.20 billion euros.
The sales decline in the past quarter was most pronounced in China, Hong Kong and Taiwan, where deliveries were down 91 percent on a total of 25 vehicles. In the Americas, with 381 units sold in the second quarter, 53 percent less.
Measured over the first six months of this year, worldwide sales are 4,127 sports cars, down 22 percent. The relatively limited sales decline was mainly due to the more or less equal sales elsewhere in Asia.
In that part of the world, 712 new cars were delivered in the past six months, a drop of just 3 percent. In Europe, the Middle East and Africa, the main sales area of Ferrari, shrinkage remained limited with 2,222 units to 8 percent.