Ferrari makes ~$137k profit per car. On just 13,752 cars a year.

Revenue splits into 2 flows: Operating profit $1.9B (the focal flow), Costs $4.8B. Ferrari FY2024: 28.3% EBIT margin on just 13,752 cars shipped.

Ferrari shipped 13,752 cars in FY2024 and posted a 28.3% operating margin: roughly €137k of profit per car. That's not a carmaker's economics; it's a luxury house. Hermès, Rolex, Ferrari: all three use deliberate scarcity to protect pricing power. Ferrari caps supply not because it can't build more (it can), but because the waiting list is the product. Exclusivity is engineered, not accidental.

Scarcity is a strategic choice, not a constraint. Ferrari keeps volume low so demand always exceeds supply, and margin stays fat.