By Giulio Piovaccari
MILAN (Reuters) -Ferrari first fully electric model will hit the streets in October 2026, its CEO said on Tuesday as the luxury sports car maker posted a 15% rise in first-quarter core earnings and stuck to its broad financial guidance for the year.
Chief Executive Benedetto Vigna said in February the much anticipated first EV, a departure for Ferrari known for its roaring petrol engines, would be presented at the company’s capital market day on October 9.
On Tuesday, Vigna said Ferrari would only show the “technological heart” of its electric car in October, as part of a three-stage unveiling process culminating with its world premiere in the spring of next year.
“Deliveries … will commence just months after that, in October 2026,” Vigna told analysts in a post-earnings call.
It was the first time the luxury sports carmaker gave the timing of when the new car could reach clients.
An analyst, who declined to be named, said it sounded like there was some delay to Ferrari’s launch plan, as one could have expected to see the car itself at the meeting this October.
It is however typical for Ferrari to start delivering a new model about three quarters after its unveiling.
Ferrari plans to continue offering petrol and hybrid cars in the future, along with EVs. Hybrid models, which it started to sell in 2019, made up 51% of Ferrari’s car sales last year.
GUIDANCE
Ferrari on Tuesday warned that tariffs introduced by U.S. President Donald Trump could cut 50 basis points off its 2025 profit margins.
But unlike several other automakers that recently scrapped guidance, including Mercedes, Ford and Stellantis, the Italian company 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 for an EBITDA margin of at least 38.3%.
Bernstein analysts said that was a sign of confidence.
“Ferrari stands out,” they said in a note.
Milan-listed shares in the company were up 1.6% at closing.
In the first quarter, Ferrari’s core earnings of 693 million euros, came close to analysts’ consensus forecast of 689 million euros in a Reuters poll.
The 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 by more profitable markets, driven by the Americas.
“We continue to enrich our product offering,” Vigna said.
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 year, including its first EV.
($1 = 0.8835 euros)
(Reporting by Giulio Piovaccari. Editing by Louise Heavens, Mark Potterand Tomasz Janowski)
