Ferrari’s new CEO, Louis Camilleri changes profit-oriented approach inherited from previous CEO Sergio Marchionne. As a result, Ferrari is expecting earnings before interest, tax, depreciation, and amortization to be in a range of 1.8 billion to 2 billion euros in 2022, down from the old target of 2 billion euros.
Camilleri told investors, “Our objectives are ambitious, but they are based on a meticulously constructed model pipeline, our enviable pricing power, and appropriate investment levels”. Further, he added, “I don’t want anyone to think that because there is a new CEO he is low-balling, this is an ambitious plan, but it is a doable one and it is based on a concrete framework.”
Ferrari reveals its most powerful super-car – Monza
Recently, Ferrari has unleashed its new super-car Monza at its Maranello factory in Italy. Ferrari’s marketing head, Nicola Boari, and chief designer Flavio Manzoni said, “The carbon-fibre, 810-horsepower Monza will be released in one-seat (SP1) and two-seat (SP2) versions and will sell less than 500 of the 12-cylinder machines.”
The Monza SP1 and SP2 models will be the initial launches of their limited series called as, “Icona”. Reports state that both the machines will be capable of reaching 100 kilometers per hour in less than three seconds.
In coming days, Ferrari plans to build 60% of its cars with hybrid engines. Camilleri said that the hybridization gives Ferrari “the opportunity to use the price lever.”
Expanding the grandee’s luxury profile, Ferrari plans to offer buyers of the Monza SP, a racing jumpsuit by Italian high-end luxury brand, Loro Piana that will also help protect drivers The Monza pilots will also get a leather-clad helmet-goggle combo and driving shoes from Berluti, a leather goods maker. Camilleri stated that plans for that transition were not yet rigid, but that the Loro Piana and Berluti collaborations give a clue at the future strategy.