The company is pressing ahead with its first EV launch amid geopolitical tensions and tariff risks, but scepticism around luxury EV demand and margin pressures could weigh on sentiment.Luxury sports car maker Ferrari stuck to its full-year guidance on Tuesday after posting a modest first-quarter increase in core earnings as it prepares to unveil its first fully electric model this month.
Shares in Ferrari fell following the results announcement, closing down 4 per cent.
The full-year forecasts, which Ferrari provided before the US and Israel launched a war on Iran in late February, include guidance for earnings before interest, taxes, depreciation, and amortisation (EBITDA) of at least 2.93 billion euros ($3.43 billion).
“Total deliveries were not impacted by the surge of hostilities in the Middle East, as Ferrari leveraged its geographical allocation flexibility, bringing forward certain deliveries to other regions,” the company said.
CEO Benedetto Vigna said Ferrari’s order book was “further extending towards the end of 2027” and that there were no “strange” or “abnormal” cancellations.
Globally, deliveries fell by 157 units in the first quarter to 3,436 in a deliberate move to ease the execution of the planned model change-over, he told analysts.
Deliveries to the Middle East, which accounts for around 5 per cent of the company’s annual car shipments, were flat in the first quarter, Vigna said, adding that Ferrari continues to get orders and arrange test drives for clients despite the conflict.
Europe faces US tariff hike on cars, Ferrari ready
Ferrari on Tuesday said its EBITDA rose 4 per cent in the January-March period to 722 million euros on higher demand for personalisations and sales of higher-priced models such as the F80 supercar.
But negative currency effects and US tariffs partly offset that contribution.
US President Donald Trump, meanwhile, is planning to increase tariffs on European cars to 25 per cent, arguing the bloc has not complied with a trade deal that had lowered them to 15 per cent.
European governments and trade groups have condemned the move by Washington. Vigna, however, said Ferrari was ready to handle the threatened tariff hike.
Ferrari’s first EV prepares to launch
Ferrari will unveil its new Luce electric vehicle in Rome on May 25.
With an expected price tag over 500,000 euros, it is set to mark a milestone for a carmaker whose roaring petrol engines have long been its global trademark. And Vigna told analysts that Ferrari has been working hard to prepare for the launch.
“We registered over 60 patents in many different areas, from electric engines, to inverters, vehicle dynamics, and battery integration into the chassis, from steering wheel to OLED displays and simpler user interface, from car glass windows to wipers,” he said.
Ferrari is debuting the long-anticipated Luce even as scepticism lingers over the viability of the market for electric luxury sports cars.
Rival Lamborghini, part of Volkswagen, this year abandoned plans for an EV sports car in 2030, pointing to weak demand and concerns over returns on hefty investments.
