Why Ferrari Stock Crashed Today
Key Points
Ferrari just updated guidance and presented its 2030 strategic plan.
Wall Street analysts were disappointed by the company's Capital Markets Day update.
Ferrari is scaling back its electric-vehicle ambitions.
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Ferrari (NYSE: RACE) stock is racing toward its worst trading day since the luxury automaker listed shares on the Milan stock exchange nearly 10 years ago. The company updated investors at its Capital Markets Day event in Italy, but it wasn't very well received by analysts.
As of 12:15 p.m. ET, Ferrari shares were trading off the lows of the day, but still down 14.4%.
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Image source: Getty Images.
Ferrari unveils its first electric car
Management increased guidance for this year and now expects revenue of about 7.1 billion euros, slightly higher than prior guidance. Longer-term guidance disappointed analysts, however. Ferrari estimates 2030 sales of just 9 billion euros, when analysts were penciling in 9.8 billion, according to Factset Research.
Separately, the company said it expects to launch an average of four new models annually through 2030 and scaled back its electrification plans. It unveiled the Ferrari elettrica, its first electric-vehicle (EV) offering.
EV deliveries will start late next year, but Ferrari now says it only expects 20% of its lineup to be electric by 2030. (It previously estimated 40% of its model lineup would be EVs by 2030.) Now, Ferrari sees a mix of 20% electric, 40% internal combustion engine (ICE), and 40% hybrid.
The 2030 projections caused today's sell-off, which wiped out all of Ferrari's 2025 stock gains.
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Howard Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends FactSet Research Systems. The Motley Fool recommends Ferrari. The Motley Fool has a disclosure policy.
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