Ferrari has made a name for itself with high-output naturally aspirated engines. The 208 GTB Turbo was the first turbocharged Ferrari in 1982 and Ferrari’s first hybrid was the LaFerrari supercar in 2013. Now, sales results for 2023 highlight how the Prancing Horse’s product line has grown What about the development of electrified powertrains?

In a record-breaking year when shipments increased 3.3% to 13,663 units, hybrids accounted for 44% of Ferrari’s factory total, while pure internal combustion engine vehicles accounted for 56% of sales. For 2023, Ferrari has four plug-in hybrids and six ICE models in its expanding portfolio, along with the track-only 296 GT3. The latter abandoned the hybrid setup of the street-legal 296 GTB/GTS in favor of an ICE-only configuration.

Compared to 2022, the combined utilization rate has doubled, reducing demand for the 296 and SF90 models. This trend could continue, especially considering the expected mix setup for Purosangue. Currently, the SUV is sold exclusively with a naturally aspirated V12 engine. Prancing Horse production increased in the second half of 2023, making the SUV the driving force behind sales growth. That said, Ferrari has made it clear that it will limit annual “Thoroughbred” sales to 20% of the company’s total revenue.

The exotic Italian manufacturer ended production of the F8 models in 2023 as the Roma Spider factories began operations in the final quarter. Ferrari has also released some of the last Portofino M cars before the model is retired. Looking ahead to 2024, three launches have been confirmed, likely successors to the LaFerrari and 812 Superfast, along with a third mystery car.

The next natural step after the series of hybrid cars is the pure electric car, expected to launch in the fourth quarter of 2025. The electric car will be assembled at a new “e-factory” at home in Maranello, which will be inaugurated into later years. By the end of the decade, electric cars are expected to account for 40% of the company’s annual sales, with another 40% being hybrids, leaving just 20% for ICE cars.