Ferrari's EV Orders Still a Mystery Despite Strong Results

Ferrari's second quarter concluded with strong financial performance, reporting net revenues of €1,938 million, an 8% increase year over year. The luxury automaker achieved an operating profit margin of 31.2% and saw its industrial free cash flow jump by 39%. The company also raised its full-year revenue guidance to approximately €7.60 billion.

Despite these positive results, Ferrari did not disclose specific order numbers for its first electric vehicle, the Luce. The company's CEO indicated that the order book extends to the end of 2027, a status that predates the EV's introduction. The raised financial outlook was attributed to stronger-than-expected customer personalizations and more favorable currency headwinds.

In its regional breakdown, Ferrari noted a significant decrease in shipments to Mainland China, Hong Kong, and Taiwan, which fell by 185 units in Q2 2026 compared to the previous year, a reduction of about a third. The Americas also experienced a decline in shipments during the quarter. These figures represent shipments, not orders, and the first customer cars for the Luce are not expected until the fourth quarter.