Ferrari are currently gearing up for the launch of their latest special edition Supercar, the 488 Challenge Stradale (also rumoured to be named GTO but unlikley), but recently die hard Ferrari fans – Tifosi – have not been happy with the news the Italian Supercar maker is to follow the likes of Lamborghini and Bentley in launching it’s own SUV, plus the news from Ferrari President Marchionne, an electric Supercar is on the way, however behind the headlines Ferrari has an ulterior motive.
Besides staying pace, or in some cases ahead of the competition with it’s model range, Ferrari is also looking to double it’s core earnings to around £1.8 Billion pounds by no later than 2022 and become debt free a year earlier. The aforementioned Electric Supercar and SUV, along with it’s Special Edition models will spearhead the Maranello outfits plans to achieve this.
President Sergio Marchionne says Ferrari will keep pushing technological boundaries, along with launching new special editions as well as expand the companies customisation programme to drive profit margins, which stood at 30 percent last year. “We are absolutely convinced that these numbers are doable,” Marchionne told analysts on a conference call, adding that profit margins could rise to at least 36 percent by 2022. “The house is firing on all cylinders, we are in a good place.”
Since leaving FCA two years ago, Ferrari has gone from strength to strength showing it can increase profits without the backing of its parent. Ferrari has had several years of record earnings, helped by a number of special edition models.
For this year, Ferrari forecasts of at least 1.1 billion euros, before taxes, with increased productivity above 9,000 vehicles, up from 8,398 vehicles in 2017. Marchionne sees no impact from currency fluctuations, saying Ferrari was strong enough to set its own pricing.
“Capital expenditures will stand at around 550 million euros for the “next couple of years”, Marchionne said.
Sergio Marchionne is due to step down from his role in 3 years but before then will see the brand enter new territory with it’s scheduled SUV and expansion into Electric cars but insists they will not weaken the brand but ensure it continues to strive with it’s exclusive appeal.