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MILAN — Ferrari will launch its first full-electric car through a three-step process, CEO Benedetto Vigna said, while presenting the company’s first quarter results.
Ferrari will show “the technological heart” of the new model at the company’s capital markets day on Oct. 9, Vigna said.
The world premier will take place in the spring of next year and sales will start in October 2026, Vigna told analysts on May 6.
It was the first time Ferrari gave the timing of when the EV could reach customers. In February. Vigna said the car would be presented at the company’s capital market day in October.
An analyst, who declined to be named, said it sounded like there was some delay to Ferrari’s launch plan, because people would expect to see the full car at the capital markets day.
Ferrari plans to continue offering gasoline and hybrid cars in the future, along with all-electric models. Hybrid models, which it started to sell in 2019, made up 51 percent of Ferrari’s car sales last year.
Full-year forecast confirmed despite tariffs
Ferrari on May 6 reported a 15 percent rise in first-quarter core earnings to €693 million and stuck to its broad financial guidance for the year, despite other automakers scrapping forecasts due to U.S. President Donald Trump’s tariffs.
Its revenue climbed 13 percent to €1.79 billion on higher shipments in Europe and to the Americas.
The Italian luxury sports car maker warned that U.S. tariffs could cut 50 basis points off its 2025 profit margins.
But it still kept its forecasts, including for full-year earnings before interest, taxes, depreciation and amortization (EBITDA) of at least €2.68 billion ($3.04 billion) and an EBITDA margin of at least 38.3 percent.
Bernstein analysts said that was a sign of confidence at a time when the likes of Mercedes, Ford and Stellantis have suspended guidance.
“Ferrari stands out,” the analysts said in a note.
Ferrari sells about one in four cars in the U.S., its largest market. The company said in March that it plans to raise prices for some of its models in the market by as much as 10 percent because of tariffs.
Ferrari’s higher earnings in the first quarter were boosted by a pricier lineup, including the SF90XX family, the 12Cilindri and the 499P Modificata models, as well as increased demand for personal touches requested by buyers and from more profitable markets, driven by the Americas.
Ferrari sales slump in China
Ferrari’s global shipments rose 1 percent to 3,593 cars in the quarter. Deliveries were held back by a continuing slump in the greater China region, where its sales fell 25 percent amid muted demand for Western luxury cars. Ferrari’s poor performance there follows a 21 percent sales drop in the region in the fourth quarter.