Latest news with #SF90XX
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 EV will be unveiled in three steps
Ferrari has opened a new 'e-building' in Maranello to build its electric car. 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. Sign up for the Automotive News Europe Breaking News alerts and be the first to know when big news happens. 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. The 296 Speciale coupe is Ferrari's latest model. It accelerates from 0 to 100 kph (0 to 62 mph) in 2.8 seconds. 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.
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.
The Citizen
07-05-2025
- Automotive
- The Citizen
Novitec turns the wick up further on Ferrari SF90 XX Stradale
Renowned tuner has extracted a bit more from the Prancing Horse's hybrid V8 flagship. Ferrari models bearing the label 'XX' were always designed exclusively for driving on racetracks. The SF90 XX Stradale, therefore, represents the first hybrid supercar to be developed in Maranello that offers the extreme performance properties of pukka GT race car, but that is still road legal. More power Enter Novitec where they start by fitting a high-performance exhaust system that not only provides a wilder exhaust note, but it also results in considerable performance improvement. ALSO READ: Ferrari removes the reigns from new hardcore 757 kW SF90 XX With the Novitec system, the SF90 XX Stradale's power output jump to 607 kW from the standard 587 kW. At the same time, torque of the combustion engine increases 804 Nm to 840 Nm. Being a hybrid with battery electric assistance, the total system output of the SF90 XX increases to 780 kW. Mechanical changes The Novitec exhaust system consists of 100-cell metal catalysts, while all the components can be manufactured from either stainless steel or light Inconel, the high-end metal alloy also used to manufacture the exhaust systems in Formula 1. The optimised exhaust gas routing lets the twin-turbo V8 expel the gases more efficiently. In addition, the thermally insulated system also lowers the temperature in the engine bay, which likewise contributes to the performance increase. More power has been extracted from the plug-in hybrid V8 powertrain. Picture: Novitec Even further improved heat dissipation of the Inconel variant can be achieved with optionally available 999 fine gold plating. The Novitec mufflers are available with or without electronic sound management by means of actively controlled butterfly valves. The sophisticated aerodynamics of the SF90 XX Stradale that are designed for maximum downforce remain untouched. Subtle changes have taken place inside. Picture: Novitec Designed with American manufacturer Vossen, the wheels are available in three different designs and in a variety of colours. Novitec sports springs are available to lower the ride height of by about 25 mm at both axles. This ensures an even more aggressive look while also contributing to further optimised handling. NOW READ: How to properly pimp a R11.8 million Ferrari Purosangue SUV
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.
