Ferrari Stock Plummets as Electric Vehicle Strategy Disappoints Analysts

Ferrari shares tumbled 14.6% in Milan trading—their worst single-day performance since the luxury automaker's IPO a decade ago. The selloff followed a Capital Markets Day presentation where management scaled back electrification targets, projecting only 20% EV penetration by 2030 versus prior guidance of 40%.

While raising 2024 revenue guidance to €7.1 billion, the company's 2030 sales forecast of €9 billion fell sharply below analyst expectations of €9.8 billion. The market reaction erased all of Ferrari's 2025 stock gains in a single session.

The debut of the Ferrari elettrica—slated for late 2025 deliveries—failed to offset concerns about the revised powertrain mix: 40% internal combustion, 40% hybrid, and just 20% pure electric vehicles by decade's end.