Ferrari Shares Fall on Weaker-Than-Expected Revenue, EV Outlook
(MENAFN) Italian luxury automaker Ferrari saw its shares tumble sharply on Thursday following a revision of its financial outlook that fell short of investor expectations. The company now projects net revenue of at least €7.1 billion ($8.24 billion) for this year, slightly higher than its prior forecast of over €7 billion ($8.12 billion), but insufficient to satisfy market demand for growth.
In addition, Ferrari outlined ambitions to achieve EBITDA of at least €3.6 billion by 2030, alongside a target net revenue near €9 billion. These updated forecasts triggered a steep 16% drop in the price of Ferrari shares listed in Milan, while U.S.-traded shares plunged over 14% during premarket trading.
In a separate announcement, Ferrari detailed its future vehicle mix strategy, planning for 40% of its sports cars to remain internal combustion engine (ICE) models, 40% hybrids, and only 20% fully electric by 2030. This represents a pullback from the previously stated goal of 40% electric vehicle (EV) sales by decade’s end.
The company attributed this shift to "a client-centric strategy, the existing climate, and its anticipated evolution," signaling a more cautious approach amid changing market dynamics.
Amid these strategic updates, Ferrari revealed key details about the technology behind its inaugural EV. At a recent technology and innovation workshop, the automaker showcased the production-ready chassis and powertrain of its upcoming “elettrica” model. According to media, sales of the electric vehicle are expected to begin in late 2026, with the official global unveiling slated for next year.
Ferrari’s Executive Chairman John Elkann emphasized the brand’s commitment to innovation, stating, “With the new Ferrari elettrica, we once again affirm our will to progress by uniting the discipline of technology, the creativity of design and the craft of manufacturing."
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