Ferrari to introduce 15 new models by 2022

By InstinctBusiness Sep 27, 20180

Italian sports carmaker, Ferrari, has disclosed it decision to introduce 15 new models by 2022, as it starts on a new five-year strategy under a new boss, where its first SUV, Purosangue, will be launched at the end of the period.

The Chief executive officer, Louis Camilleri, who took the helm at Ferrari in July, following the death of Sergio Marchionne, said his plan was “ambitious” but “do-able”, based on a detailed framework.

Ferrari wants to achieve adjusted core earnings of €1.8bn-€2bn (£1.6bn-£1.8bn) by 2022, which aim is to develop new vehicles and move towards hybrid petrol-electric models, which will make up 60% of its range by the end of the five-year plan.

The Chief marketing officer, Enrico Galliera, also noted that the new models would come with a “significant” increase in the average price.

Ferrari seeks to capitalise on its Formula 1 success with a new limited-edition open-top racing-style supercar, which industry experts have said supercars of this kind typically cost more than $1m.

SOURCE: BBC