Ferrari goes electric with four-seat coupe but shares get shocked

Ferrari will begin its cautious shift to electric vehicles in 2026 with its first battery-powered four-seat coupe, but shares plummeted Thursday over a long-term profit outlook that fell short.

Shares of Ferrari fell by as much as 16 percent Thursday on the Milan stock market, as the luxury carmaker spelled out profit and revenue expectations for 2030 that disappointed investors.

The luxury brand with the prancing horse logo presented details of its first electric sports car, to be released next year, during a presentation to investors and media at its Maranello factory, even while revealing it would scale back its electrification plans.

The four-seat coupe, "Elettrica," will offer over 1,000 horsepower and have a range of 530 kilometres (329 miles).

Ferrari -- which sold fewer than 14,000 cars last year -- "must manage scarcity" to succeed, Ferrari CEO Benedetto Vigna told investors.

With rising prices, many different models, and a waiting list ideally ranging from 20 to 24 months, "we have to be sure that there aren't too many cars on the road," he said.

Although Ferrari slightly boosted its 2025 guidance for revenue, margins and adjusted earnings per share, investors were disappointed by a longer-term outlook.

Ferrari predicted revenue to grow by five percent per year to reach 9.0 billion euros in 2030, with an adjusted operating profit of 2.75 billion euros.

RBC Capital Markets analyst Tom Narayan wrote in a note that Ferrari's forecasts were below analysts' expectations, while investors "are likely to interpret a downshift in EBIT growth (earnings before interest and taxes) from prior history".