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15 New Cars To Be Launched By Ferrari Under A New 5-Year Plan


09/19/2018


15 New Cars To Be Launched By Ferrari Under A New 5-Year Plan
Italian luxury car maker Ferrari has announced that it would launch 15 new cars for user sin the market by 2022. This new stable would include hybrid cars as well which would make up about 60 per cent of the total production of luxury cars by the company.
 
This announcement was made by Ferrari's new Chief Executive Officer Louis Camilleri and is a part of the company’s 2018-2022 business plan which was also unveiled during the company's Capital Markets Day event organized at its headquarters here in Maranello.
 
Three to be widely available sections Sports Cars, Gran Turismo (GT) and Special Series will comprise the new product range of the company. The new portfolio will also include a new very limited edition of what the company calls the "Icona" (Icon) brand which is based on the most iconic models of the company that were produce in the 1950s and 1960s but also with the latest technology from its Formula 1 cars.
 
The company unveiled models of Monza SP1 and Monza SP2 which belong to the Icona series. 
 
Camilleri said that the company would ship around 9000 units of the vehicles this year compared to some 8,340 done in 2017. The company however said that by the end of the proposed plan, it would increase its production capacity over the 10,000 cap.
 
The company has also announced that hybrid models would account for almost 60 per cent of its total portfolio of cars manufactured by the year 2022 because the company wants to conform to the ever stricter emissions regulations throughout the world. Hybrid variant models would be made across all of the models of the company. The rest of the cars would comprise of the traditional internal combustion engines.
 
A new utility vehicle named as "Purosangue" (thoroughbred) which is expected otbe rolled out by the company by the end of the new plan in 2022 would be put up for commercial sale by the company even as it would boost the GT section.
 
Camilleri however stressed that the company would make no compromise on the world class quality that Ferrari is known for even while it would ramp up production and bring in the 15 new models as announced. .
 
The ultimate outcome of the plan as announced by Ferrari is to boost its revenues to touch the 5 billion euros (5.8 billion U.S. dollars) mark by 2022. The company generated revenues of 3.4 billions in 2017. The company also aims to increase the profit margins to about 38 per cent from about 30 per cent at present.
 
"Our objectives are ambitious, but they are based on a meticulously constructed model pipeline, our enviable pricing power, and appropriate investment levels to support key initiatives," Camilleri told investors.
 
The company’s strategic plans are for periods beyond the 2019-2022 period, the CEO said. 
 
"Our perspectives are naturally longer than a single plan, and indeed we are investing to sustain our growth well beyond this period," he said.
 
(Source:www.xinhuanet.com)