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Ferrari's $400K SUV is sold out until 2026

Ferrari's first-quarter profits were up 27% thanks in part to the new Purosangue SUV, its first four-door model, which is sold out until 2026.

If you stop by your friendly local Ferrari dealer today and order a car, it will be two years before you get it.

But it's three for an SUV.

The Italian exotic car brand announced a 27% increase in first-quarter profits Thursday, boosted by the launch of its Purosangue SUV, the brand's first four-door model.

Total sales were up 10% from the same quarter last year to 3,567 vehicles.

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The stock price closed at an all-time high of $291.79 on the news.

Ferrari CEO Benedetto Vigna said the Purosangue has exceeded expectations.

""We were caught by positive surprise for these strong interest," Vigna said during the company's earnings call.

THERE ARE ONLY 3 NEW CARS PRICED UNDER $20,000 NOW

The order book for the $400,000 Purosangue was filled and closed shortly after its reveal last year, but have now been reopened. The name is Italian for "thoroughbred" and it comes standard with a 715 horsepower V12 engine.

However, new orders will not be filled until 2026, while the rest of the Ferrari lineup is sold out until 2025.

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Neverthleess, Vigna reiterated a pledge to restrict Purosangue production to 20% of the brand's overall sales, to retain its exclusive image.

Reuters contributed to this report

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