Ferrari (NYSE:RACE) ‘Quietly’ Prepares for Hybrid Introductions in 2020
Most of the cars built by Ferrari will be hybrid petrol-electric by Y 2022, the Italian luxury car manufacturer says including its newly announced FUV named the Purosangue, Italian for Thoroughbred.
“By 2022, nearly 60% of the models we produce will be built around hybrid power-trains,” CEO Louis Camilleri said at the Maranello outfit’s HQ in September.
The company known for its low-slung aerodynamic Superscars and HyperSuper car will also launch the Purosangue after the end of the current 5 year business plan in Y 2022.
Ferraris are faced with more and more anti-emission regulations around the world, as well as increasingly environmentally-aware would-be owners and as the production is increased the regulations come into effect.
The company will increasingly make hybrid cars “as the years unfold to meet specific regulatory requirements but also to satisfy customer desires for significantly improved emissions while retaining the driving emotions that render Ferraris simply unique,” CEO Camilleri said.
Ferrari has been making the Limited-Edition hybrid LaFerrari for several years, which it has described as offering the most extreme performance ever achieved by 1 of its production cars.
Announcing the FUV, CEO Camilleri said he initially abhorred the idea.
“It just does not sit well with our brand and all that it represents,” he admitted, but insisted that the new design will “redefine expectations”.
It will be “elegant, powerful, versatile, comfortable, spacious… in all respects worthy of the Ferrari badge,” he said.
Sergio Marchionne had announced a Ferrari Utility Vehicle in January, a 4WD urban luxury car for the end of Y 2019 or early Y 2020.
He insisted on calling the new vehicle a “Ferrari Utility Vehicle” or FUV.
The company will launch 15 new models by Y 2022, CMO (chief marketing officer) Enrico Galliera announced, with a “significant” increase in the average price.
Umberto Bertele, economic lecturer at the Polytechnic University of Milan, hailed the company’s recent success.
“Ferrari has been an enormous success since it entered the stock market in 2015, with a market capitalization of US$25-B dollars. Mr Marchionne managed to position Ferrari as a luxury brand rather than a car brand.”
“The FUV is a good choice, but the problem will be keeping it very distinct from other brands,” he told HeffX-LTN’s source.
These new Icona series Supercar at $1.4-M each will add lots of cash to the bottom line.
The new Monza SP1 and SP2 are the 1st Limited-Edition cars in the “Icona” series for “dedicated clients and collectors,” the company said, based on the classic 166MM “barchetta” designs of the 1949 and 1950.
The new cars will be equipped with Ferrari’s biggest production engine, a 810 bhp V12 with a maximum 499 to be constructed.
It is reported that they are all spoken for.
|NYSE:RACE||117.8||31 October 2018||1.52||117.79||119||116.64||276,278|
|HeffX-LTN Analysis for RACE:||Overall||Short||Intermediate||Long|
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