Ferrari shares take a hit as the marque reveals first electric car and lowers future ambitions

Ferrari has unveiled its inaugural full-electric vehicle, the Elettrica, marking a milestone at its Maranello headquarters in northern Italy. Although the long-awaited reveal grabbed the headlines, investors reacted with dismay as the company issued a less optimistic profit forecast. The Elettrica, a four-seat coupé expected to hit the market next year, represents the legendary carmaker’s boldest step yet into electrification. Shares in Milan tumbled by 15 per cent, erasing gains and bringing their valuation to €70 billion—the lowest since February.

No official price tag for the Elettrica has been released, but industry watchers are closely eyeing how Ferrari will position it relative to the €390,000 starting price of its Purosangue SUV. The new model boasts 1,000 horsepower and an estimated range of 329 miles, with key components such as its battery, e-axles, and electric sound system developed in-house. Rather than mimic the iconic roar of an internal combustion engine, Ferrari has chosen to emphasise the distinctive characteristics of an electric powertrain.

The carmaker surprised analysts and shareholders alike by revising its fully electric vehicle (EV) ambitions downwards. It now expects that only 20 per cent of its models will be fully electric by 2030, a sharp drop from the 40 per cent target set three years ago. By the same year, the company envisages a balanced mix of powertrains: 40 per cent internal combustion, 40 per cent hybrid, and the remainder fully electric. Over half its cars shipped in the first half of this year still ran purely on petrol, underscoring the persistence of traditional engine models in Ferrari’s portfolio.

Adjusted operating profit is forecast to reach €2.8 billion by 2030, up from €2.1 billion this year. This projection, together with a revenue goal of €9 billion, trails behind the more bullish €3.2 billion profit and €10 billion revenue expected by the market. The modest outlook rattled confidence among investors, who have seen Ferrari consistently outpace targets since its 2016 spin-off from the Fiat group. Customisation and a strong order book have historically driven growth, yet the latest outlook suggests a slower acceleration ahead.

The Italian marque plans to launch four new cars annually between 2026 and 2030 and expand its exclusive personalisation programme with new “tailor made” centres scheduled for Tokyo and Los Angeles in 2027. Next year, new flagship stores will open on Bond Street in London and in New York, all aimed at maintaining Ferrari’s aura of exclusivity in a rapidly changing automotive world.

Amidst mounting competition from less expensive Chinese electric vehicles and the broader European industry’s lobbying for more lenient combustion engine regulations, Ferrari finds itself navigating a transformed landscape. The company’s recalibrated targets and investor apprehension signal a more cautious approach as the brand adapts to the electric revolution.