Ferrari's share price declined by 13% following the company's announcement of lower long-term profit growth projections and a reduction in its electric vehicle (EV) targets.

Ferrari's share price declined by 13% following the company's announcement of lower long-term profit growth projections and a reduction in its electric vehicle (EV) targets. While the company raised its short-term guidance, it now expects annual EBITDA growth of 6% through 2030, down from the previously anticipated 10%.

Ferrari also revealed that EVs will make up 20% of its lineup by 2030, a decrease from the earlier target of 40%. Despite these changes, Ferrari reports strong demand for its vehicles, with most models sold out and long waiting lists. The company attributes the market reaction to its conservative guidance and high stock valuation, rather than a decline in demand.

Ferrari shares down 13% on fears of slowdown

Shares of Ferrari down double digits after disappointing long-term guidance. Let's get to Robert Frank with some of these numbers and what they're saying about the EV market, among other things, Robert. Yeah, Carl, good morning. Ferrari shares down 13% on fears of a slowdown in profits. At its big investor day today, the company raising its short-term guidance, but it lowered its long-term projections, and that's what really got investors concerned here. Analysts had been expecting EBITDA growth of about 10% a year. Now looking at more like 6% through 2030, the company also scaling back its electric vehicle ambitions. It released the details of the technology, at least that will power its first all-electric Ferrari. That's gonna be launched later next year. That car is called the Elettrica. It's gonna have special motors generating 1,000 horsepower, zero to 60 in 2.5 seconds, but it lowered its EV target. So it said EVs would account for 20% of its lineup by 2030. That is down from the previous 40%. If you look at other high-end sports car makers, they're also delaying or throttling back their EV plans from Aston Martin, Lamborghini, Bugatti, all sort of dialing back those plans. In its earnings call in July, Ferrari said that there's no indication that tariffs are impacting demand at the dealership. Most of its models are sold out. The waiting lists are over a year. So, guys, this really isn't a story about the wealthy pulling back or any signs of less demand. It's really just probably a conservative CEO that likes to under-promise and over-deliver. This is a stock that's so highly priced, very expensive at 40 to 50 times, any whiff of slight uncertainty tends to really affect this stock. Sarah. You know what else is not working? Their F1 team, not so hot lately either. Thank you, Robert. Robert Frank. I'm not here for Hamilton yet.

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