Ferrari confirms first EV reveal for October
"We're not into an electric transition, we're rather doing electric addition," says Ferrari boss
Ferrari exceeded all its sales and revenue targets for 2024, registering a net profit of more than €1.5bn for the last calendar year. Specifically, the number was €1.526bn (£1.268bn), a 21.3 per cent increase on 2023; at a time when so many companies appear to be struggling, Ferrari’s customers (much like Lamborghini customers) just can’t get enough from Maranello.
Ferrari is in a great position, basically, for perhaps its biggest announcement ever; along with the results announcement, CEO Benedetto Vigna said that “we will reveal more of our future on 9 October at our Capital Markets Day.” That future, everyone agrees, refers to the long-heralded unveiling of the Ferrari EV - its very first all-electric offering. What a quiet day on the internet that’ll be.
Vigna continued: “Last year's results reflect a great teamwork that involved all our Company’s souls. This teamwork was also visible in a very competitive racing season. The will to progress that has always characterized Ferrari has led to innovation in our infrastructure, with the inauguration of the e-building; in our products, best highlighted by the new supercar, the Ferrari F80; and in R&D, with the new E-Cells Lab that will further strengthen our electrochemical knowledge to prepare us for the future.” Nothing stands still for very long in Maranello.
In terms of important raw stats, Ferrari shipped 13,752 cars in 2024, which was 0.7 per cent up on 2023, but delivered an EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) of €2.55bn (£2.12bn), up 12.1 per cent on ‘23. So when Vigna talks of “quality of revenues over volumes”, that’s what he means - make a similar amount of Ferraris, but make more profit from them.
The model split reflects that aim, with the slight increase driven by the Purosangue - the most expensive model in the range - plus the Roma Spider and 296 GTS, both of which are pricier than their coupe counterparts. It might be argued they lend themselves even better to personalisation than the hardtops, too, which is extremely lucrative - and also was on the rise in 2024. Shipments of the Daytona SP3 increased ‘in line with plans.’ Hybrid models like the 296 just outsold pure combustion Ferraris, 51 per cent to 49.
We can expect more electrified Ferraris to come, with six new models due including the EV. The 12Cilinidri Spider is imminent, and we can surely expect a spicier 296 GTB in due course ahead of its renewal; given its popularity, it seems likely that the Roma will get its new version sooner rather than later. But little short of a 250 GTO continuation will stop the electric car being the biggest Ferrari news story out of Maranello this year. October will be here before you know it.
It will be very interesting to see the reaction, but they only sell 13,000 cars a year and people are willing and able to spend £350-500k and then seemingly dump them for a massive loss to get whatever else they are producing so as long as there are lots of moneyed people willing to continue doing that, it'll all be fine for Ferrari.
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with VW in the doldrums. Ferrari's will be more common than Golf's. And I understand from Doug Demuro that things are at a point where some people have actually started to really look at the combination of losses versus gains, and are starting to think that maybe the ROI isn't all its cracked up to be.
If that sentiment continues to grow (fester?), then we may well see a lot of lower level Ferrari's sitting on showroom floors unsold, and with bigger and bigger discounts required to move them. And if THAT happens, then...
And I understand from Doug Demuro that things are at a point where some people have actually started to really look at the combination of losses versus gains, and are starting to think that maybe the ROI isn't all its cracked up to be.
If that sentiment continues to grow (fester?), then we may well see a lot of lower level Ferrari's sitting on showroom floors unsold, and with bigger and bigger discounts required to move them. And if THAT happens, then...
"It doesn't matter how much money you have, it never feels good burning it"
I'm sure there is a lot of money about in the boomer generation, but I would think at some point the combination of dreadful UK roads, and massively dimensioned newer Ferraris would be a tipping point in this market. But I probably said the same five years ago.
Ferrari are booming meanwhile Donny dimwit demands the rest of the world buy more Murican cars. There is a very good reason why people don't.
Since he 458 Ferrari have been so impressive, rarely putting a foot wrong. Perhaps hey will even conquer F1 again at some point.
And I understand from Doug Demuro that things are at a point where some people have actually started to really look at the combination of losses versus gains, and are starting to think that maybe the ROI isn't all its cracked up to be.
If that sentiment continues to grow (fester?), then we may well see a lot of lower level Ferrari's sitting on showroom floors unsold, and with bigger and bigger discounts required to move them. And if THAT happens, then...
And I understand from Doug Demuro that things are at a point where some people have actually started to really look at the combination of losses versus gains, and are starting to think that maybe the ROI isn't all its cracked up to be.
If that sentiment continues to grow (fester?), then we may well see a lot of lower level Ferrari's sitting on showroom floors unsold, and with bigger and bigger discounts required to move them. And if THAT happens, then...
TX.
And I understand from Doug Demuro that things are at a point where some people have actually started to really look at the combination of losses versus gains, and are starting to think that maybe the ROI isn't all its cracked up to be.
If that sentiment continues to grow (fester?), then we may well see a lot of lower level Ferrari's sitting on showroom floors unsold, and with bigger and bigger discounts required to move them. And if THAT happens, then...
I’m thinking what’s released will simply be off the scale ballistic, think Rimac + with a Ferrari badge.
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