Ferrari Unveils New Lineup
CBJ — Italian automaker Ferrari plans to launch 15 new models, including hybrid cars, a utility vehicle and more special editions as part of a plan to as much as double core earnings by 2022.
With margins currently hovering around 30%, strong pricing power and an enviable customer waiting list, CEO Louis Camilleri inherits a business firing on all cylinders and is not expected to stray far from his predecessor’s script. Camilleri plans to continue the vision of former leader Sergio Marchionne, who died unexpectedly from complications due to surgery.
Marchionne managed to double Ferrari’s market value since taking it public in 2015. Marchionne had orchestrated Ferrari’s spin-off from parent Fiat Chrysler, positioned it as a luxury brand rather than a carmaker.