The scourge of inflation is coming for Ferrari NV dealerships.
The maker of 215 000-euro ($219 460) Portofino and 1.6 million-euro Monza models will raise prices in the first quarter of next year, Chief Executive Officer Benedetto Vigna said on an earnings call Tuesday.
Ferrari raised its forecasts for full-year revenue, adjusted earnings and free cash flow, as strong demand helps offset higher costs hitting the Maranello, Italy-based manufacturer. Vigna said the company is booking orders from customers who will take delivery beyond next year while cautioning that growth in deliveries is expected to slow in 2023.
Ferrari is in the midst of an electrification drive to turn its historic factory in northern Italy into a hub for battery-powered cars. The transformation underscores how even the most pure-bred makers of combustion engines are embracing an electric future.
Three hybrid models accounted for about 17% of Ferrari’s total shipments in the second quarter. The company will unveil its first sport-utility vehicle, the Purosangue, in early September and start making deliveries early next year.
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