Report: Ferrari is giving all its employees performance bonuses as high as P700,000

Following a successful 2021
by Drei Laurel | Feb 8, 2022
PHOTO: Ferrari
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For the most part, the past year was (again) a relatively rough one for the auto industry. The main culprit, of course, is the COVID-19 pandemic, but a global parts shortage and supply chain disruptions didn’t help make the situation any easier.

Ferrari, though, appears to be among the exceptions to what was otherwise a down year for carmakers. According to a recent Reuters report, the Italian supercar brand shipped a record-setting 11,155 units in 2021—a 22% and 10% rise compared to 2020 and pre-pandemic 2019, respectively.

Vehicles like the Ferrari Roma and SF90 Stradale spearheaded the Prancing Horse’s sales push in 2021. Its models sold so well last year, in fact, that orders for the company’s vehicles stretch as far out as 2023.

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The Ferrari Roma helped lead the brand to a successful 2021

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“We have the strongest-ever order book in our history, up double digits versus the prior year and covering well into 2023,” sitting Ferrari CEO Benedetto Vigna said during Ferrari’s annual results presentation.

Ferrari’s robust 2021 resulted in forecasted earnings amounting to around €1.65 billion to €1.70 billion—a considerable rise compared to the previous year’s €1.53 billion. As a result of the brand’s excellent performance, it is giving all of its employees performance-linked bonuses reaching as high as €12,000 (around P700,000).

Sana all. Perhaps we should have gotten into the business of building supercars instead of writing about them? Do you think Ferrari will be able to sustain this level of success for 2022?

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PHOTO: Ferrari
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