What drove Ferrari's gross profit growth in Q3 2024?

Ferrari's gross profit grew by $910.95 million in Q3 2024, primarily driven by robust product demand and a strong product mix:

1. **Strong Product Demand**: The hybrid model accounted for 48% of total deliveries, reflecting a robust product demand. The 296 GTS model was a significant contributor to this growth.
2. **Increased Personalization**: The company reported a 16% year-over-year revenue increase, which was partly driven by the increased demand for personalizations. This trend was reflected in the upgraded 2024 guidance.
3. **Market Positioning and Brand Investments**: Ferrari's strategic focus on branding and marketing investments reinforced its market position, supporting revenue growth and profitability.

In summary, Ferrari's gross profit growth in Q3 2024 was driven by strong product demand, particularly for hybrid models, increased personalization, and effective market positioning and branding investments.