Ferrari Shares Plummet Amidst Cautious Forecast

Ferrari's shares plummeted 15% to a record low after the company issued a cautious long-term forecast during its investor day. CEO Benedetto Vigna emphasized the importance of delivering on commitments, citing Ferrari's history of beating its targets. The automaker's subdued forecast disappointed investors and led to the largest one-day drop in shares since its IPO a decade ago.

Ferrari's shares tumbled 15% to a record low after the company presented a cautious long-term forecast during its investor day. The Italian luxury automaker, known for its high-end sports cars, revealed that it would produce only 20% of its vehicles as pure electric models by 2030, a significant reduction from its earlier target of 40% Shares plunged as Italian sports car maker Ferrari cut its electric vehicle production target in hal.. - MK^[1].

Ferrari's CEO, Benedetto Vigna, emphasized the importance of delivering on commitments, citing the company's history of exceeding targets since its IPO a decade ago. However, the subdued forecast disappointed investors, leading to the largest one-day drop in shares since the company went public on the New York Stock Exchange Shares plunged as Italian sports car maker Ferrari cut its electric vehicle production target in hal.. - MK^[1].

The automaker also revised its profit outlook, predicting an adjusted operating profit of 2.75 billion euros ($4.517 trillion won) by 2030, which is significantly lower than the 3.2 billion euros ($5.258 trillion won) predicted by analysts Shares plunged as Italian sports car maker Ferrari cut its electric vehicle production target in hal.. - MK^[1]. Sales are expected to increase from 7.1 billion euros ($11.668 trillion won) in 2025 to 9 billion euros ($14.79 trillion won) in five years, but this figure is still below the 10 billion euros ($16.43 trillion won) predicted by analysts Shares plunged as Italian sports car maker Ferrari cut its electric vehicle production target in hal.. - MK^[1].

The stock price drop was also influenced by the fact that Ferrari's first pure electric vehicle model, the "Eletrica," was not a supercar due to limitations in electric and battery technology Shares plunged as Italian sports car maker Ferrari cut its electric vehicle production target in hal.. - MK^[1]. The new model, which will debut in 2026, will be a four-seat grand touring vehicle with four electric motors and over 1,000 horsepower Ferrari guidance disappoints as new EV game plan revealed^[2].

Ferrari's conservative guidance and the delay in producing a supercar electric model were not well-received by investors, leading to a significant decline in stock price. The company's stock tumbled over 10% following the updated guidance, with the stock price dropping from 403.98 to 348.75 euros ($456.15 to $407.38) Ferrari guidance disappoints as new EV game plan revealed^[2].

Ferrari's management has stated that the "Eletrica" is an addition to the lineup rather than a transition to electric vehicles. The company plans to continue selling hybrid and internal combustion engine vehicles while gradually increasing the proportion of electric models in its portfolio Ferrari goes electric with four-seat coupe 'Elettrica'^[3].