Big News About Ferrari's Future Expected This Week

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Hopefully, we'll learn something about the Purosangue's launch date too.

It's a great time to be Ferrari. While most of the world faces financial difficulty brought on by the pandemic, the world's top 1% sailed through the storm and emerged even richer than before. This proliferation of wealth has given the luxury sector a healthy boost, with the Prancing Horse benefitting from strong sales. Last year, the company shipped 11,155 units to monied clients.

But riding a wave of success won't stop the looming electric era. Will Ferrari be able to maintain these incredible figures as it pivots toward EVs? After all, it has built its reputation on stirring supercars and soulful powertrains. In a battery-powered future, the latter will have to be left behind - but if there's anyone who can successfully lead the brand through this transition, it's Benedetto Vigna.

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As we've previously reported, the CEO will address several pertinent issues at a Capital Market Day on June 16. Plenty will be shared on Ferrari's electrification strategy, with company insiders noting the automaker is preparing a third production line for EVs and a battery facility.

Speaking to Reuters, industry expert Marco Santino said he expects Ferrari to detail how it will adapt to the impending era. "We should expect a clear focus on technology transition, qualifying the key burning question, namely how the company will evolve in this new environment, not only in terms of products portfolio."

It's certainly not reticent to adapt. The SF90 and 296 GTB hybrids are prime examples of Ferrari melding tradition with technology and the Prancing Horse has already said its first EV will arrive in 2025.

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A lot is weighing on the shoulders of the announcement. Analysts at Jefferies told the publication that "a lot is riding on the upcoming Capital Market Day to change valuation parameters for a business which seems to have been on autopilot in recent years and may need a transformational strategy."

But for investors, the Maranello-based brand has plenty of allure. As reported, company shares have remained near-flat over the past year while the luxury index has seen a decline of 13%. Worse still is the European auto index, which suffered an 18% drop over the same period.

Hopefully, it's not all shop talk. Little has been said about the Purosangue since we learned it will rumble into battle with a V12 engine. Perhaps the June 16 announcement will allow us to glean further insights, particularly concerning when it will be launched. We expect an official reveal this year, with customer deliveries commencing in 2023.

2020-2022 Ferrari SF90 Stradale Front View Ferrari
2020-2022 Ferrari SF90 Stradale Rear View Ferrari
2020-2022 Ferrari SF90 Stradale Top View Ferrari
2020-2022 Ferrari SF90 Stradale Side View Ferrari
2020-2022 Ferrari SF90 Stradale Steering Wheel Details Ferrari
Source Credits: Reuters

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