Hyperdrive
Ferrari's New CEO Eases Off of Goals Inherited From Marchionne
- Italian carmaker broadens product range with SUV, hybrid plans
- High-performance Monza already allocated to loyal customers
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Ferrari NV’s new chief executive officer tempered some of his predecessor’s most ambitious goals, softening a key profit target while delaying a long-awaited hybrid SUV by a couple of years.
Ferrari now expects earnings before interest, tax, depreciation and amortization to be in a range of 1.8 billion ($2.1 billion) to 2 billion euros in 2022, CEO Louis Camilleri told investors on Tuesday. Ferrari will start selling a planned SUV called the “Purosangue” -- or thoroughbred -- by then, the company said as it briefed investors on its five-year development plan.