Ferrari is set to enter the electric age with characteristic drama, rolling out its first fully electric car in a carefully staged three-step process. CEO Benedetto Vigna detailed the launch timeline as the Italian automaker posted robust first-quarter results and maintained its outlook, even as competitors struggle with global headwinds.
Three Steps to Ferrari’s Electric Future
The journey to Ferrari’s debut EV is mapped out in three significant phases:
- On October 9, Ferrari will reveal the “technological heart” of the electric model during its capital markets day, offering a preview of the innovation powering the new vehicle.
- The world premiere of the full car is scheduled for spring 2025, marking the first public unveiling of Ferrari’s inaugural battery-powered supercar.
- Sales are set to begin in October 2026, bringing Ferrari’s storied badge to the electric vehicle segment for the first time.
This is the first official timeline Ferrari has provided for its EV launch. While some analysts had anticipated seeing the entire car this October, Vigna’s announcement confirmed a staggered approach, reflecting Ferrari’s focus on precision and anticipation.
EV Launch Amidst Record Earnings and Market Challenges
Ferrari’s announcement came as it reported a 15 percent increase in first-quarter core earnings, reaching €693 million, and confirmed its full-year forecasts despite fresh tariffs and an uncertain global market. Revenue rose 13 percent to €1.79 billion, powered by higher shipments to Europe and the Americas, a premium product lineup, and personalized orders.
The company kept its EBITDA guidance for 2024 at €2.68 billion and a margin of at least 38.3 percent, even as U.S. tariffs threaten to trim 50 basis points off profit margins next year. Analysts at Bernstein noted Ferrari’s confidence and stability, contrasting it with peers like Mercedes, Ford, and Stellantis, which have all suspended financial guidance in the current climate.
Mixed Global Performance: U.S. Grows, China Slumps
Ferrari sells about a quarter of its cars in the U.S.—its largest market. In March, the company announced price increases of up to 10 percent on some models in the U.S. to offset tariffs. The Americas and Europe drove growth, while sales in Greater China fell by 25 percent in the first quarter, compounding a 21 percent decline in the prior quarter. Ferrari, however, remains less exposed to China than other luxury brands, limiting its shipments there to just 10 percent of total sales to safeguard margins.
New Models and Hybrid Momentum
While all eyes are on Ferrari’s first electric car, the automaker continues to diversify. Last week, Ferrari unveiled the 296 Speciale plug-in hybrid and its convertible version, pushing its hybrid technology further. Hybrid models made up more than half of Ferrari’s sales in 2023, and the company has promised six new models this year, including the highly anticipated EV.
Ferrari’s approach signals that it will continue to offer gasoline and hybrid models alongside electric cars for the foreseeable future, giving buyers a range of performance options.
Looking Ahead
As the countdown begins for Ferrari’s electric debut, the company remains committed to growth, innovation, and exclusivity—even in the face of shifting markets and regulatory hurdles. With its signature flair, Ferrari is betting that the EV era can be as thrilling as its storied past.
