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On Sunday by Klaus Schachinger, Euro
It was decided. The specialist, who recently wanted to present Ferrari with a concept for autonomous driving, was automatically invited by CEO Benedetto Vigna to do a few laps on the company’s Fiorano circuit with a test driver. “When they came out, they said to me: Well, Benedetto, our presentation sucks,” said the top manager recently at the capital market day of the sports car icon from Maranello in northern Italy. From this it can be concluded that there will be no autonomous Ferrari driving in the near future. “No Ferrari customer would pay to have a computer with them while driving. The focus is on the human driver,” says Vigna. As a physicist and chip specialist, Boss is probably a good judge of the commercial potential of driver assistance systems. Ferrari had overthrown the top manager of the chip company ST Microelectronics.
Vigna has to lead the very special car manufacturer, whose brand is almost a religion, not only in Italy, into the age of electromobility. That could work, as Boss’s recently unveiled plan reassured even stockbrokers on the capital markets: The price accelerated during the presentation.
15 new models by 2026
Vigna is accelerating the transformation of the traditional company: 15 new models, including a super sports car, are to be launched over the next four years. By 2026, 60 percent of Ferraris should be powered by electric or hybrid drives. By 2030, only a fifth will be offered with an internal combustion engine. Around 4.4 billion euros will be invested in the Maranello plant by 2030 to increase the capacity of the new drives.
The 296 GTB model shows what a transformation could look like for the carmaker whose V12 cylinder engines are legendary. Ferrari unveiled the hybrid-powered car in its showrooms in the first quarter of 2022.
This luxury sports car with a 2.9-liter V6 engine costs around 270,000 euros. The 663 hp combustion engine is coupled with an electric motor that can deliver a further 167 hp as a performance booster.
Purosangue—the noble one
The first fully electric Ferrari will be launched in 2025, the first SUV, also with hybrid drive, in early 2023: Purosangue, Italian for wellbred, is Maranello’s off-road vehicle for impressive performance in developed cities.
In 2017, then-charismatic boss Sergio Marchionne said he would be shot if Ferrari came out with an SUV similar to BMW, Bentley or Porsche. Now the large Scuderia from northern Italy is also entering the highly profitable segment. Under no circumstances will Maranello be a Marshall-look SUV. It is said that the delicate line is of great importance. At the latest when Purushang is presented in September it will be seen whether it will succeed.
Success in this lucrative market will help Chef Vigna meet its lofty ROI goals. The cars from Maranello are still lagging behind Red Bull Racing in Formula 1. But when it comes to profitability, Ferrari has the edge.
In 2021, the luxury icon among sports car manufacturers delivered a good 25 percent operating return (EBIT). In the current year it should be around 23 percent. Vigna is then aiming for 27 to 30 percent by 2026 – despite investing billions in new platforms for electric drives. Incidentally, that would be a new lap record for the multiple Formula 1 world champion.
Perfomance: Ferrari has a strong brand and is one of the most profitable automakers in the world. Take advantage of price weakness to get started.
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