Italy's Ferrari announces 15 new cars in 5-year business plan
In a necessary effort to adjust to increasingly stricter emissions requirements worldwide, hybrid engines would be used on nearly 60 percent of Ferraris -- across various models -- by 2022, and normal internal combustion engines on the remaining 40 percent.
The GT section will be boosted, and new models to be put on the market to draw fresh potential buyers would include a utility vehicle called "Purosangue" (thoroughbred), which was to see the light by the end of the plan in 2022.
All of this would be implemented without sacrificing the brand's exclusivity, Camilleri and other officials openly stressed during the event.
Under the plan, Ferrari aimed at raising its revenues to 5 billion euros ($5.8 billion) by 2022 from 3.4 billion posted in 2017, and at boosting profit margins by some 38 percent (from about 30 percent currently).
"Our objectives are ambitious, but they are based on a meticulously constructed model pipeline, our enviable pricing power, and appropriate investment levels to support key initiatives," Camilleri told investors.
