Ferrari will introduce more hybrid models starting 2019, CEO says

Article by Christian A., on November 10, 2016

When Ferrari started putting turbocharged engines inside their models, plenty of people were wary and saw that move as controversial. A report by Automotive News Europe reveals that there is another potential controversy brewing as the brand is planning a widespread use of hybrid engines across its product range.

Many agree that it’s acceptable that the LaFerrari was fitted with an electric motor as it meant the power already provided by the internal combustion V12 engine could be increased. The LaFerrari was first revealed during the 2013 Geneva Auto Show. Back then it showed a hybrid system composed of a 6.3-liter V12 engine and an electric motor resulting in a combined power of 949 hp. This power is then transferred to the road through the automatic dual-clutch 7-speed transmission.

However, according to CEO Sergio Marchionne, the shift to electrification is meant to increase the volume of sales for the brand.

Due to regulations related to carbon dioxide emissions, Ferrari is limited to manufacturing a maximum of 9,000 cars annually. For this year, the brand hopes to come out with a total of 8,000 units, increasing to 9,000 by the year 2019. Marchionne revealed that with the plan to have more hybrid engines after 2019, Ferrari is hoping that it will eventually make a total of 10,000 units annually by the year 2025.

Marchionne added however that it is not committing to this plan or even confirming that this is indeed the goal of the brand. However he said that the idea of the brand having annual sales exceeding 10,000 units per year by 2025 is highly possible. To make this amount of volume possible, the brand would need to widen the range of cars it offers to be more appealing to a wider range of customers, Marchionne continued.

Originally part of Fiat Chrysler Automobiles, Ferrari was separated early this year from FCA with the goal of making the brand focus on offering luxury products. Still, the objective for now is to put attention on making cars. Marchionne shared that profits, and with it cash, can easily be achieved if Ferrari remains focused on cars. However it will also look into entering the luxury market but it aims to offer them with a price that is more reasonable, he added.

Just this week, Ferrari said that earnings for the third quarter experienced an increase of 10% and this was helped with sales experiencing an 8% increase. This in turn resulted in the share price going up by 7%. According to Stuart Pearson, analyst at Exane BNP Paribas, Ferrari is planning over the upcoming four, maybe five, years to release a maximum of two new models. Pearson added that this strategy represents a bigger potential compared to extension strategies.

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