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Pricing and product mix
Stronger pricing power and a richer model mix have driven higher average selling prices, supporting improved margins and earnings resilience despite lower unit volumes.
Personalization and order backlog
Growing personalization revenue combined with a largely filled order backlog for multiple models provides visible revenue streams and greater predictability for future deliveries.
Brand value and secondary market premiums
Distinctive artisanal craftsmanship and the presence of strong secondary market premiums enhance ownership appeal, attracting new buyers and bolstering long-term demand.
Model phase-out impact
The phase-out of legacy models such as the 296 GTS and Roma Spider is likely to reduce shipment volumes and create a headwind to unit sales.
Production ramp and delivery risk
Slower production ramps and reduced near-term delivery expectations for certain new models could constrain sales growth and delay revenue recognition.
Rising non-cash charges and margin uncertainty
Higher depreciation and amortization as new models enter production, together with ambiguous management messaging on future margins, could restrain profitability progression.
