Ferrari’s stock plunged 16%, wiping out more than €13 billion in value, after the automaker unveiled new long-term financial targets and the technology behind its first electric model, the Elettrica.
While Ferrari raised its 2030 revenue target to €9 billion, investors were disappointed by the lower-than-expected growth outlook and a revised EV strategy. CEO Benedetto Vigna defended the cautious forecast, saying, “We cannot commit to what we cannot achieve.”
Ferrari now expects its 2030 lineup to include 40% ICE vehicles, 40% hybrids, and only 20% EVs, reversing earlier ambitions for a 40% EV share. The company plans a second EV before 2030 but not before 2028, reflecting tepid demand in the luxury electric segment.
The Elettrica, built with in-house batteries, inverters, and e-axles, marks a milestone in Ferrari’s transition to electrification. Still, the event was overshadowed by the market reaction. Analysts at Citi said Ferrari’s 2030 guidance fell short of consensus expectations.
Despite the stock hit, Ferrari reaffirmed its plans to release four new models a year and expand its luxury retail network, including new “Tailor Made” centers in Tokyo and Los Angeles.
