Ferrari counts on new models to boost revenue, including SUV

Italian luxury carmaker Ferrari set Thursday an ambitious target for revenues in a four-year strategic plan based on a raft of new models, including a long-awaited SUV.
The 6.7-billion-euro ($7-billion) goal for 2026 is well above this year’s estimated revenue of around 4.8 billion euros.
The 2022-2026 strategic plan will be driven by the launch of new products, including Ferrari’s first SUV “Purosangue” (Thoroughbred), which will be unveiled in September, with deliveries from 2023.
Another 15 new launches are expected between 2023 and 2026, new chief executive Benedetto Vigna revealed at the brand’s historic Maranello site in northern Italy.
Ferrari, which celebrates its 75th anniversary this year, broke results records in 2021, delivering 11,155 cars — up 22.3 percent — and generating revenue of 4.3 billion euros (up 23.4 percent).
Vigna did not give many details of the new Purosangue, other than that it will be a sports car and will have a V12 engine, a trademark of the mythical brand.
But he said: “I am confident it will exceed all expectations.”
He emphasised its exclusivity, saying it would make up on average fewer than 20 percent of total deliveries.
Under the previous strategic plan unveiled in 2018, Ferrari had also promised the launch of 15 cars — a target Vigna said had been reached. (AFP)

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