Ferrari disappoints investors as shares drop 16%

Key takeaways

The company lowers its electric vehicle sales forecast from 40% to 20%
Delays affecting the second EV model

Key takeaways

The company lowers its electric vehicle sales forecast from 40% to 20%
Delays affecting the second EV model

Ferrari has unveiled its first fully electric car, set to hit the market in 2026. The new model, designed in collaboration with Jony Ive, will be larger than traditional Ferrari sports cars, although it will not be an SUV. The vehicle’s price is expected to start at $535,000.

Due to low demand for luxury electric cars and technological challenges related to batteries, the company has lowered its forecast for the share of electric vehicles in sales by 2030 from 40% to 20%. The second electric model will be introduced no earlier than 2028. Production of the electric car will take place in a new factory in Maranello, which will allow simultaneous manufacturing of combustion engine, hybrid, and electric vehicles.

At the same time, Ferrari presented its strategy for 2030, aiming to achieve net-zero emissions and investing in sustainability, production digitalization, and vehicle personalization. Following the announcement, the company’s stock price experienced a significant drop, falling as much as 16%, mainly due to lower-than-expected electric vehicle sales forecasts.

Source: xStation5

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