The unveiling of Ferrari’s first electric car causes a $13 billion drop in value
This page is translated from the original post "La présentation de la première Ferrari électrique fait perdre 13 milliards" in French.
- 10/10/2025 8:48
Thursday, October 9, 2025, the unveiling of the technical platform of the future electric Ferrari resulted in a shareholder exodus.
There are dates that forever mark the history of a manufacturer. Thursday, October 9, 2025, will be remembered as one of those dark days for Ferrari, not on a track, but on another equally unforgiving terrain: the Milan Stock Exchange. In a single session, the Prancing Horse’s stock plummeted by more than 15%, its steepest fall since its IPO in 2016.
The share price dropped to 354 euros, representing a market capitalization loss of 13 billion euros within hours. That same capitalization fell from 81 to 68 billion euros, and by Friday, October 10, 2025, this figure seemingly dropped further to 62 billion, according to various financial media sources.
An震wave for a manufacturer many considered untouchable, a symbol of exclusivity, profitability, and consistency—an exemplar of excellence that suddenly appeared vulnerable.
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Getting Fingers in the Electric Socket…
It all began in the polished environment of the Capital Markets Day, the grand investment event where Ferrari was to present its strategic plan through 2030. The highly anticipated event was accompanied by the revelation of the technical platform for its first electric car in history. And then, everything went off the rails!
Why? Because, drawing from the difficult experiences of its competitors (Porsche being the most prominent) in the electric sector, Ferrari dramatically revised its electrification targets downward. The announced figures chilled the markets:
- -Target revenue of 9 billion euros by 2030 (compared to 7.1 billion in 2025)
-Adjusted operating profit (EBIT) at 2.75 billion,
– And most notably, only 20% of models to be 100% electric by 2030, compared to the previously promised 40%.
These projections, deemed timid by investors, were enough to shake the legend. Beneath it all, a crisis of identity is playing out. Ferrari, guardian of the V12 and mechanical sound, is slowly moving towards electrification. The Maranello-based manufacturer has presented the initial technical components of its future 100% electric supercar—batteries, motors, and architecture designed “in-house”—but enthusiasm was lacking.
In a market where Porsche, Tesla, and the German giants Mercedes, BMW, and Audi are accelerating in the high-end electric segment, Ferrari appears hesitant, caught between modernity and tradition. On Thursday, November 9, the markets made their decision: pragmatism does not sell.
A Misunderstood Message
“Ferrari did not deliver the vision investors were expecting,” summarized a City analyst to the Financial Times. “They wanted dreams; what they got was caution.” The CEO Benedetto Vigna’s communication, a former STMicroelectronics executive, aimed to be rational and measured: secure profitability, preserve exclusivity, and avoid rushing the transition. But in a financial world accustomed to exponential growth, the scientific tone sounded an alarm.
To support its stock price, Ferrari promised a capital buyback worth 3.5 billion euros… which only added to the confusion.
Yet, behind the storm, the Maranello house retains strong fundamentals. The order books remain full until 2028. The thermal and hybrid ranges continue to display record margins.
October 9, 2025, will not only be remembered as a stock market correction. It marks a philosophical turning point for the world’s most admired manufacturer. Ferrari has realized that the value of a myth alone no longer protects a stock, and markets have reminded Maranello that passion, without credible projection, is no longer a shield. On October 9, 2025, Ferrari lost a bit of its invincibility.
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