With the untimely passing of CEO Sergio Marchionne, Ferrari’s shareholders have been curious about future plans. The wait is over because Reuters is reporting from the FCA meeting in Maranello. Chairman John Elkann laid out the framework of the plan yesterday. Sergio had set a goal of $2 Billion in core earnings, but John says $2.3 Billion is possible. They will achieve this with hybrids making up 60% of production.
A smaller V6 will be offered in the lineup, along with an SUV named “Purosangue” (Thoroughbred). Also unveiled at the event were the first “Icona” models. Using historical inspiration, the single-seater Monza SP1 and the two-seater Monza SP2. Both have the drivetrain of the 812 Superfast, with designs from the glory days of Scuderia Ferrari. The brand’s new CEO Louis Camilleri said: “This is an ambitious plan, but a doable one based on a concrete, detailed framework”. Overall margins are at 30%, and they hope to see 38% in the near future. We can’t show you the details until a formal press release, so stay with us for all your Ferrari news.