Ferrari sinks after unveiling first electric car; 2030 strategic plan and guidance underwhelms investors after halving its EV target
Ferrari is 14% in the red in premarket trading after unveiling its first electric car, while simultaneously scaling back its electrification plans to focus on its petrol and hybrid lineup until 2030.
In an event at its headquarters in northern Italy, the company lifted the hood on its new, production-ready “Elettrica” model, finally offering a glimpse into the iconic carmaker’s progress on its EV plan, which was announced back in 2022. The Elettrica is due to be delivered from late 2026, per the company’s 2030 strategic plan.
Still, as Ferrari CEO Benedetto Vigna was keen to emphasize, “The EV is an addition, not a transition,” suggesting that the new electric model will complement, not replace, the company’s existing lineup.
In the carmaker’s 2030 plan, released later in the day, Ferrari disclosed that it aims for a lineup made up of 40% internal combustion engine models, 40% hybrids, and 20% fully electric cars by 2030 — dialing down its 2022 ambitions for electrification, when the targets for EVs and ICE models were flipped.
Though Ferrari has ramped up its hybrid production since 2022, shipments have plateaued in recent quarters.
Some of Wall Street anticipated that Ferrari would lower its EV target, with Deutsche Bank analysts suggesting that investors would likely welcome Ferrari’s shift back to its higher-margin combustion portfolio.
Indeed, the stock’s drop today is more likely a reflection of its more cautious 2030 financial outlook. The company expects revenue of ~9.0 billion euros and EBITDA of at least 3.6 billion euros by 2030 — the latter implying a 6% compound annual growth rate, well below the 10% rate implied from the company’s 2022 outlook, according to Tom Narayan, an equity analyst at RBC Capital Markets.
Ferrari also forecasts 90,000 active clients by 2030, alongside an average of four new car launches per year from 2026 to 2030.
Some of Wall Street anticipated that Ferrari would lower its EV target, with Deutsche Bank analysts suggesting that investors would likely welcome Ferrari’s shift back to its higher-margin combustion portfolio.
Indeed, the stock’s drop today is more likely a reflection of its more cautious 2030 financial outlook. The company expects revenue of ~9.0 billion euros and EBITDA of at least 3.6 billion euros by 2030 — the latter implying a 6% compound annual growth rate, well below the 10% rate implied from the company’s 2022 outlook, according to Tom Narayan, an equity analyst at RBC Capital Markets.
Ferrari also forecasts 90,000 active clients by 2030, alongside an average of four new car launches per year from 2026 to 2030.
