Ferrari\’s Bold New Car Shocks Industry, Sends Stock to Worst Day Ever

Ferrari Faces Market Challenges Amid Electric Vehicle Transition

Italian luxury sports carmaker Ferrari experienced a significant setback on the stock market, with its shares dropping 16 percent on Thursday. This decline followed disappointing financial targets and the announcement of its first fully electric production vehicle, the Ferrari Elettrica.

The company\’s performance on Wall Street has raised concerns among investors, particularly after Ferrari failed to provide specific production numbers or pricing details for the upcoming electric model. The Elettrica is expected to hit showrooms in late next year, with its design set to be revealed in the spring. However, the lack of clarity has left many questioning the company’s strategy.

Online, Redditors have drawn comparisons between Ferrari\’s new EV and Jaguar\’s controversial rebranding, which faced criticism from former President Donald Trump. One commenter on X, formerly known as Twitter, remarked, \”Ferrari has now gone woke.\” This sentiment reflects a growing concern among traditionalists about the brand’s shift toward electrification.

Strategic Shift in Product Lineup

Under Ferrari\’s new five-year plan, the company aims to have 40 percent of its product lineup based on core internal combustion engines, 40 percent hybrid, and 20 percent electric by 2030. This represents a notable shift from its previous goal of having 40 percent of its lineup be electric by 2022.

Ferrari plans to launch an average of four new models each year over the next five years, with a focus on producing more models with lower volumes. This strategy signals a reduction in the number of fully electric vehicles the company previously intended to build.

Other luxury automakers have also scaled back their electric vehicle production plans to align with market demand. Ferrari\’s Elettrica is positioned as a new segment that could attract a broader range of buyers. The car builds on 15 years of electrification research at Ferrari, starting with Formula 1 technology incorporated into the limited-edition La Ferrari hybrid supercar, which debuted in 2013.

Technological Innovations and Sustainability Efforts

To maintain the sports car feel and emotional connection that defines the Ferrari experience, the Elettrica will capture powertrain vibrations through accelerometers on the rear axle. These vibrations will be amplified to create the signature sports car roar. Drivers can also choose from five power levels using the steering panels to simulate continuous acceleration.

Ferrari is manufacturing most critical components internally, including the battery system and software. The chassis and body shell will be made from 75 percent recycled aluminum, resulting in a 6.7-ton reduction in carbon dioxide emissions per vehicle.

Financial Projections and Market Outlook

Ferrari reported revenues this year would exceed $8.2 billion, up from over $8.1 billion euros in the previous guideline. The company is projecting net revenues of $10.4 billion by 2030 under its five-year plan.

However, Citi analyst Harald Hendrikse noted that the outlook fell below even \’lower growth\’ estimates, suggesting a conservative approach from Ferrari. The automaker did not immediately respond to requests for comment from the Daily Mail.

Industry Reactions and Future Uncertainties

As Ferrari navigates its transition to electric vehicles, questions remain about the future of luxury supercars. Some speculate whether the all-new electric Ferrari could revolutionize the luxury car market. Others wonder about the surprising pledge Ferrari might make regarding its future in luxury supercars despite the EV shift and economic pressures.

Additionally, there are inquiries about whether the Ferrari 12Cilindri\’s elegance could mark the end of the V12 engine. Meanwhile, brands like Ferrari and Aston Martin are reporting little interest in luxury electric sports cars, raising questions about the industry\’s direction.

Could Fiat\’s dramatic U-turn to produce a 500 Hybrid save the iconic brand amid underwhelming electric vehicle sales? As the automotive landscape continues to evolve, Ferrari\’s journey into the electric era remains a closely watched development.