MILAN (AP) — Italian luxury sports car manufacturer Ferrari The company raised its 2025 forecast on Thursday in the face of 15% global tariffs on foreign car imports to the United States, as the company revealed the new powertrain and chassis of its first all-electric production vehicle.
Yet its electric vehicle debut was marred by the company’s worst trading day since its IPO in 2016. Industry analysts had expected far greater long-term growth, and shares plunged 15% on the Milan Stock Exchange and about as much on the New York Stock Exchange.
Ferrari CEO Benedetto Vigna declined to give target production figures or a price for the Ferrari Elettrica, which will be delivered from the end of next year, and whose design will be revealed in the spring.
Under the automaker’s new five-year plan, 40 percent of the product lineup will consist of the brand’s core internal combustion engines, 40 percent will be hybrids, and 20 percent will be electric. by 2030with an average of four new launches per year over the period. The new business plan calls for more models with lower volumes for each.
This signals a sharp reduction in the number of fully electric vehicles the company announced just a few years ago. In 2022, Ferrari announced that 40% of its range would be electric.
Other luxury automakers have scaled back electric vehicle production plans to meet demand.
The Ferrari Elettrica fully electric vehicle represents a new segment that Vigna believes would attract new buyers to Ferrari. It builds on 15 years of electrification research at Ferrari, starting with Formula 1 technology that was first integrated into the limited-edition La Ferrari hybrid supercar that debuted in 2013.
To retain the sports car feel and emotions that are an integral part of the Ferrari experience, the Elettrica will capture powertrain vibrations through accelerometers on the rear axle which will be amplified to create a sports car roar. Drivers can also select five power levels using the steering panels to create the sensation of continuous acceleration.
Ferrari also manufactures the most critical components in-house, including the battery system and software. The chassis and body will be made from 75% recycled aluminum, saving 6.7 tonnes of carbon dioxide per vehicle.
Ferrari said its turnover this year would reach 7.1 billion euros ($8.2 billion), up from more than 7 billion euros in the previous guideline. Ferrari is also targeting earnings before interest, taxes, depreciation and amortization, or EBITDA, of 2.7 billion euros with a margin of more than 38.3%.
Presenting its five-year plan, the Formula 1 team and sports car manufacturer which has expanded into luxury products forecasts a net turnover of 9 billion euros by 2030 with an EBITDA of at least 3.6 billion euros on margins of 40%.
Citi analyst Harald Hendrikse said the outlook fell short of estimates for “even weaker growth” and that the projections reflected Ferrari’s conservative outlook.
