Ferrari had its best year ever, and now the company is giving each of its 5,000 workers a bonus of up to $15,000…
Last year's Formula 1 season was a frustrating disaster for Ferrari, but the same cannot be said for the legendary Italian marque's supercar production; in fact, their happiness was in stark contrast to each other. Financially, the Maranello-based automaker had a record 2022 and is passing on some of its wealth to its hard-working employees by handing out fat bonus checks. The chief executive officer of the Ferrari brand, Benedetto Vigna, said that more than 5,000 employees of the company will receive bonuses of as much as 13,500 euros (about 15,000 dollars), which represents a jump of about 12.5 percent compared to the previous year.
According to last year's financial report released by Ferrari, the company delivered a record 13,221 cars, representing an incredible growth of 18.5 percent compared to 2021. This helped the Ferrari brand accumulate a net profit of just over $1 billion. Interestingly, the impressive sales performance doesn't even include the manufacturer's much-anticipated SUV, the Purosangue, which will start reaching customers sometime later this year. The Ferrari SUV is predicted to become the manufacturer's best-selling model and significantly boost sales figures for this year and beyond. The company's CEO claimed that demand for Purosangue is “extremely high; far beyond expectations.” In fact, slots for the Ferrari SUV have been sold for at least the next two years, forcing the Italian brand to temporarily stop taking new orders.
The record sales results have had a predictably positive impact on Ferrari's share price, which has risen sharply in recent months. After falling below 170 euros (about $185) in mid-2022 due to a market-wide selloff, Ferrari shares recently managed to hit an all-time high of 247 euros (about $270). In fact, the stock price is up 280% since it debuted on the stock market in 2016, making it a better-performing investment vehicle than some of the most collectible cars built by the legendary manufacturer.