Latest news with #499PModificata
Miami Herald
08-05-2025
- Automotive
- Miami Herald
Ferrari Confirms Yearly Forecast Despite Tariff Uncertainty, Schedules First EV Deliveries
Several automakers, including but not limited to Porsche, Mercedes-Benz, and Ford, have suspended their financial guidance after Q1 because of uncertainties relating to U.S. vehicle and parts import tariffs, but Ferrari deviated from this trend. Instead, the Italian automaker confirmed its 2025 economic forecast after reporting a 15% profit rise during Q1, and despite warning that U.S. tariffs could cut 50 basis points (half a percent) of its 2025 profit margins. Ferrari also said it will start deliveries of its first-ever electric vehicle (EV), the Elettrica, in October 2026. The company's CEO, Benedetto Vigna, said the first part of the Elettrica's reveal, scheduled for October of this year, will focus on the vehicle's "technological heart," according to Carscoops. Ferrari will develop and build the EV's electric motors, battery modules, and inverters in Maranello. The exotic carmaker is forecasted to bring in 2025 earnings of at least €2.68 billion ($3.03 billion) before interest, taxes, depreciation and amortisation, Reuters reports. Ferrari's Q1 success is attributed to a more expensive inventory, including the 499P Modificata ($5.4 million), the SF90XX lineup (starting at $890,000), and the 12Cilindri (starting at $470,950), along with an increase in demand for bespoke specs and from more profitable markets, such as the Americas. Shipments rose 8% in Europe, the Middle East, and Africa, while the Americas registered a 3% increase, according to The Wall Street Journal. The most frequently delivered Ferraris included the Roma Spider, 296 GTS, SF90XX family, and the Purosangue. Markets with a decline in deliveries comprised China, Hong Kong, and Taiwan at 25%, and the rest of the Asia-Pacific at 6%. Vigna noted the automaker shipped 3,593 cars during Q1, 33 more than the previous year, which was mostly in line with expectations. He added that Ferrari achieved these results because the company focused on the quality of revenue vs. volumes. In Q1, Ferrari reported a net profit of €412 million ($465.9 million), up from €352 million during the same period last year. "All key metrics recorded double-digit growth, underscoring a strong profitability driven by our product mix and continued demand for personalizations," Vigna said to The Wall Street Journal. Conversely, automakers like Mercedes-Benz reported experiencing lower profitability in Q1, with U.S. tariffs causing the company to ditch its 2025 financial guidance. Mercedes-Benz announced a 7.3% profit margin for its car segment, down from 9% during last year's Q1. "The current volatility with regard to tariff policies, mitigation measures and resulting potential direct and indirect effects, in particular on customer behavior and demand, is too high to reliably assess the business development for the remainder of the year," the German automaker said in a statement according to Reuters. Ferrari's announcement on its EV is significant since it's the first time the automaker has gone on record providing an official timetable for the model's debut. What's equally significant is how the company is sticking to its 2025 financial guidance, while nearly the entire auto industry is doing the opposite. With grim auto market outlooks for 2025 appearing left and right, Ferrari's standout Q1 and confidence in its annual projections are a breath of fresh air. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
Yahoo
07-05-2025
- Automotive
- Yahoo
Ferrari's first electric vehicle to debut next year
Ferrari will begin deliveries of its first fully electric vehicle (EV) in October 2026, CEO Benedetto Vigna confirmed. The announcement came as the Italian luxury automaker reported a 15% increase in core earnings for the first quarter and maintained its full-year financial guidance, reported Reuters. While the EV will be introduced in stages, the company is set to reveal only the "technological heart" of the vehicle during its capital markets day on 9th October 2025. Vigna told analysts in a post-earnings call: "Deliveries ... will commence just months after that, in October 2026." This marks the first time Ferrari has provided a timeline for when customers can expect to receive the new model. Analysts noted that the delayed full unveiling may suggest a shift in the company's initial launch schedule. However, Ferrari typically begins deliveries around three quarters after a model's official premiere, aligning with the projected October 2026 delivery date. Despite the introduction of its EV, Ferrari will continue to produce and sell internal combustion and hybrid models. Hybrid vehicles, which Ferrari began offering in 2019, accounted for 51% of its total sales in 2024. The company also cautioned that tariffs introduced by President Donald Trump could impact its 2025 profit margins by about 50 basis points. Nevertheless, unlike some of its industry peers—including Mercedes, Ford, and Stellantis—Ferrari reaffirmed its 2025 financial forecasts. These include a target of at least €2.68bn ($3.04bn) in full-year EBITDA and an EBITDA margin of at least 38.3%. In the first quarter of 2025, Ferrari reported core earnings of €693m, closely aligning with analysts' expectations of €689m, according to a Reuters poll. The earnings were supported by high-end models such as the SF90XX series, the 12Cilindri, and the 499P Modificata, alongside strong demand for customisations and higher-margin markets, particularly in the Americas. Shares in Ferrari rose 1.6% on the Milan Stock Exchange following the earnings announcement. The automaker recently unveiled the 296 Speciale plug-in hybrid and its convertible version and plans to launch a total of six new models in 2025, including its first EV. "Ferrari's first electric vehicle to debut next year" was originally created and published by Just Auto, a GlobalData owned brand.
Time of India
06-05-2025
- Automotive
- Time of India
Ferrari reports 15% rise in Q1 earnings, confirms forecasts despite tariff risks
Ferrari reported a 15% increase in first-quarter core earnings, reaching 693 million euros, driven by pricier models and strong demand for personalized features. Despite potential margin impacts from U.S. tariffs, the company reaffirmed its full-year guidance, projecting core earnings of at least 2.68 billion euros for 2025. Ferrari's first fully electric car is anticipated to be unveiled in October. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Ferrari reported a 15% rise in first-quarter core earnings on Tuesday and stuck to its broad financial guidance for the year, despite a string of automakers scrapping forecasts due to U.S. President Donald Trump's Italian luxury sports car maker warned U.S. tariffs could cut 50 basis points off its 2025 profit it still kept its forecasts, including for full-year earnings before interest, taxes, depreciation and amortisation (EBITDA) of at least 2.68 billion euros ($3.04 billion) and an EBITDA margin of at least 38.3%.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 shares in the company reversed earlier losses after results were published, and were up 1.1% at 1255 the first quarter, Ferrari's core earnings amounted to 693 million euros, close to analysts' consensus forecast of 689 million euros in a Reuters result was driven 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 were little changed in the quarter at 3,593 cars, "underscoring a strong profitability", Chief Executive Benedetto Vigna said."We continue to enrich our product offering," he added,Ferrari last week unveiled the new 296 Speciale plug-in hybrid model and its convertible version, and has promised a total of six new models this will include Ferrari's first ever full-electric car, expected at the beginning of October.
