Trinity Francis profile picture Trinity Francis a month ago

Ferrari Letter To Shareholders Details 'Profound Change' At Maranello

John Elkann announces record results for Ferrari in 2022 and details future plans to expand Ferrari's line-up.

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Ferrari - Ferrari Letter To Shareholders Details 'Profound Change' At Maranello - News

In a letter to Exor shareholders, John Elkann summarises Ferrari’s successes in 2022. He says, “Ferrari, our most valuable Company, continues to strengthen and the year started spectacularly with the Ferrari Daytona SP3 being awarded the Grand Prize: Most Beautiful Supercar 2022 at the Paris Festival Automobile International. This award highlights the beauty of the works of art that are being so passionately crafted at Maranello.”

Looking forward at plans to electrify Ferrari’s offering, he explains, “Benedetto Vigna and his team presented Ferrari’s new strategic plan for 2022 to 2026: Pushing the Boundaries. The plan outlined their intention to have fifteen new launches, between 2023 and 2026, including the highly anticipated new Supercar and, in 2025, the first fully electric Ferrari.”

Ferrari - Ferrari Letter To Shareholders Details 'Profound Change' At Maranello - News

With this in mind, 2026 will see a shift in the proportion of traditionally powered Ferraris on offer. “By 2026, internal combustion engines will represent 40% of the powertrains offering, while hybrid and fully electric will make up the remaining 60%. Ferrari’s aim is to have an offering that can adapt to consumer preferences while respecting regulations and continuing to be distinctive in terms of performance and sound.” Elkann also says Ferrari anticipates “revenues will increase up to €6.7 billion by 2026.”

See also: Ferrari And Playmobil Team Up To Celebrate Enzo Ferrari’s 125th Birthday

2022 saw record profits with “revenues of €5.1 billion (up 19% on the previous year). While profound change is happening within the walls of Maranello, particularly to strengthen its racing activity on the track and to develop its lifestyle lines on the catwalks, the will to progress that our founder, Enzo Ferrari, held close to his heart continues to keep the people of Ferrari humble and ambitious as they shape the Prancing Horse’s future.”