Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
🚨 Our Pro Data Reveals the True Winner of Earnings Season Access Data
Ferrari adds Roma to growing 'Prancing Horse' stable
© Reuters. A new Ferrari car
By Giulio Piovaccari
MILAN (Reuters) - Ferrari (MI:RACE) is set to roll out the Roma, a record fifth new model this year for the 'Prancing Horse', as it expands its stable to help sustain its profit and share price growth.
The new grand tourer (GT) will make its debut on Thursday in Italy's capital in an event inspired by Federico Fellini's "La Dolce Vita".
GTs are more comfortable on long journeys than high-performance sports cars and models from the 1960s, some seating four, are among the most popular at auctions and among Ferrari enthusiasts. Ferrari has said previously that about 40% of its total sales could come from GT models by 2022, up from 32% now.
The Roma will be a 2+ coupé, meaning it has two small rear-seats, Ferrari said on Wednesday, without disclosing its price.
"With its distinctive flair and style, the car is a contemporary representation of the carefree, pleasurable way of life that characterised Rome in the 1950s and 1960s," the Italian luxury carmaker added.
It will feature a 620-horsepower, 3.85 liter eight cylinder mid-front mounted engine.
This year's other new releases include another GT, the 812 GTS, presented in September, which the company described as a return for a model type that has played a "pivotal role in the marque's history", as well as the F90 Stradale, Ferrari's first hybrid car in series-production.
Chief Executive Louis Camilleri said last week the hybrid SF90 Stradale was attracting "huge interest" despite initial skepticism by clients used to roaring combustion engines.
Ferrari has also promised several special edition hybrid cars and a utility vehicle, the Purosangue, which is expected by late 2022 as it seeks to almost double core earnings and boost margins to above 38%, without sacrificing exclusivity.
It is set to slow the roll-out of new vehicles in the coming years, as it planned to launch 15 models between 2019 and 2022, while achieving a significant increase in average retail price.
Chairman John Elkann has said that Ferrari, which shipped fewer than 10,000 cars last year, would not try to chase German rival Porsche (DE:PSHG_p) which makes more than 250,000 sports cars and SUVs annually.
To capitalize further on its name, Ferrari plans new apparel and accessory collections, entertainment offers, and luxury products and services for clients.
Related Articles
Add Chart to Comment
Confirm Block
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
Report this comment
I feel that this comment is:
Comment flagged
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.