Ferrari CEO Sergio Marchionne "sees" hybrid technology as a way to sidestep emissions regulations and reach unprecedented sales targets, reports Automotive News.
With its LaFerrari the only hybrid model in the company’s range, Marchionne reportedly said all Ferraris will rely on hybrid power in some way from 2019.
Promising a “fundamental shift” in the way Ferraris are manufactured, and with the aim to not only produce more hybrids but cars that appeal to a wider demographic, he says the doors are open to sell possibly in “excess” of 10,000 cars in 2025 but did not to commit to any number or target.
While it’s committed to only selling 8000 cars this year, to maintain exclusivity, the brand’s volume limit stands at 10,000 units before it’s subject to fuel economy and emissions requirements higher-volume brands must deal with. Hybrid technology will help it cope with such regulations.
Ferrari shares reportedly experienced a 7% price increase following their quarterly report last Monday. And while Marchionne’s vision for Ferrari as a “luxury brand” involves expanding its focus beyond vehicles, these positive earnings have helped keep the focus on cars.
“[It is easier] to generate profits and cash if we stick to cars while at the same time look at the extension into luxury at a more reasonable pace,” he said.
Automotive News also talked to Stuart Pearson, Exane BNP Paribas analyst, who reinforced Ferrari’s plan to introduced up to two new models in the next five years is “gaining favour over potential brand extension strategies”.
“This could be a material positive,” he added, “and, combined with a focus on hybridization, could allow Ferrari to breeze through the 10,000 volume cap.”