Revenues from cars and spare parts were €3.6 billion, which the company put down to higher volume, strong enrichment of the product mix and a positive contribution from personalisations.

Meanwhile, engines revenue increased 25.7% to €189 million and sponsorship, commercial and brand revenues reached €431 million, up 12.9% at a constant currency.

Ferrari reported that shipments for 2021 totalled 11,155 units, up 2,036 units or 22.3% against 2020 results. Sales of V8 models were up 34.6%, while V12 models were down 16.1%, which the company reports was mainly due to reduced volume of the 812 Superfast, which was phased out in the year.

Shipments during the year were driven by the F8 family, together with the Ferrari Roma and the SF90 Stradale, which reached global distribution.

All geographic regions posted double-digit growth in 2021, with EMEA up 14.0% on 2020, the Americas increasing by 21.8%, Mainland China, Hong Kong and Taiwan almost doubling (97.1%) and the rest of APAC seeing growth of 27.2%.

“Our record 2021 financial results demonstrate once more the strength of our business model. We carefully managed an impressive order intake in line with our strategy to pursue controlled growth and preserve brand exclusivity”, said Ferrari CEO Benedetto Vigna.