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☆ Ferrari's core profit rises 7%, helped by product mix, personal touches
▼ + stars: | 2024-11-05 | by ( ) www.cnbc.com time to read: +1 min

A Ferrari logo is being installed on a Ferrari car at Ferrari's new 'e-building' facility where the luxury sportscar maker is testing lines before an expected start of car production in early 2025, in Maranello, Italy, June 21, 2024. Ferrari said on Tuesday its core earnings rose 7% in the third quarter, despite a slight decrease in car shipments, as the luxury sports car maker continued to benefit from a richer product offer and increased demand for personalization. Ferrari said in a statement it was now even more confident of hitting its full-year targets. A richer product offer, including stronger pricing power, brought a 60 million euro positive contribution to the quarterly result, the company said in a statement. Chief Executive Benedetto Vigna added the company enjoyed "exceptional order book visibility well into 2026."

Persons: Ferrari, Benedetto Vigna Locations: Maranello, Italy, Milan

☆ Here are Friday's biggest analyst calls: Nvidia, Tesla, Ferrari, Meta, Amazon, Eli Lilly, Walmart, Uber & more
▼ + stars: | 2024-10-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Goldman Sachs reiterates Nvidia as buy Goldman raised its price target to $150 per share from $135 following a series of Nvidia management meetings. Morgan Stanley names Atlassian a top pick Morgan Stanley named Atlassian a top idea and says the software company is well positioned for share gains. Morgan Stanley reiterates Eli Lilly as overweight Morgan Stanley raised its price target on the stock to $1,158 per share from $1,106. JPMorgan reiterates Amazon, Uber and Meta as top picks JPMorgan said in a note on Friday that Amazon, Uber and Meta were the firm's top three picks heading into earnings. JPMorgan upgrades Ferrari to overweight from neutral The firm says it's more constructive on the luxury automaker following a series of management meetings.

Persons: Wells, Redburn, Mercado, Morgan Stanley downgrades Qorvo, Morgan Stanley, Goldman Sachs, Goldman, Jensen Huang, Colette Kress, Stewart Stecker, Atlassian, Eli Lilly, LLY, Mizuho downgrades Mobileye, Kinder Morgan, it's bullish, Benedetto Vigna, Investor Relations Aldo Benetti, Tesla, Guggenheim Organizations: Bank of America, Broadcom, TAM, UBS, Devices, Mercado Libre, Nvidia, Pharma, Mizuho, JPMorgan, Meta, of America, Ferrari, Investor Relations, Netflix, Guggenheim, Walmart Locations: America, OW, China

☆ Emotion can come from different technologies: Ferrari CEO
▼ + stars: | 2024-07-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEmotion can come from different technologies: Ferrari CEOBenedetto Vigna, the CEO of Ferrari, discusses the company's venture into electric vehicles as the company prepares to unveil its first fully electric car by the end of 2025.

Persons: Benedetto Vigna Organizations: Ferrari

☆ The five secrets to Ferrari’s success as a luxury brand
▼ + stars: | 2024-07-04 | by ( Robert Frank | ) www.cnbc.com time to read: +10 min

In this article RACE-IT Follow your favorite stocks CREATE FREE ACCOUNTwatch nowIn the world of luxury, Hermès is arguably the gold standard. Analysts predict Hermès could surpass Louis Vuitton in revenue within the next three years as the world's largest luxury brand. There is one luxury company, however, that has raced past Hermès when it comes to growth and brand cache – Ferrari. To better understand what makes Ferrari a luxury brand, CNBC traveled to Ferrari headquarters in Maranello, Italy, to interview the company's CEO, Benedetto Vigna. "A luxury company is a company that is using technology, innovation, storytelling, heritage, everything, with the ultimate goal to feed that emotional side that we all have."

Persons: Birkin, Louis Vuitton, Hermès, Enzo Ferrari, Ford, Ferrari, Bernstein, Luca Solca, Benedetto Vigna, Robert Frank, Vigna, Adam Jeffery, Solca, Ferraris, Martyn Lucy, Bernard Arnault, Crystal Lau, Francesca Volpi Organizations: Ferrari, New York Stock Exchange, General Motors, CNBC, Ferraris, Goodwood Festival, Getty, Spiders, Rolex, Hermès, Bloomberg Locations: Maranello, Italy, Geneva, Chichester , England, it's, California, Roma

☆ Ferrari CEO says all-electric model preserves the 'emotion' of the famed supercars
▼ + stars: | 2024-06-24 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

Ferrari's all-electric model won't be launched for over a year, but early tests prove it has all the driving traits and emotion of a true Ferrari, according to Ferrari CEO Benedetto Vigna. "More people have started to drive our electric Ferrari, and they have a good feeling. Little is known about the electric model, since it's not scheduled for launch until the fourth quarter of 2025. "When you're talking about the Ferrari experience, the driving traits in a car, you're talking about having a unique emotion when you're in the car. He said Ferrari will continue offering customers the choice of internal combustion engines and hybrids alongside the electric model.

Persons: Benedetto Vigna, Vigna, Ferrari, it's Organizations: CNBC, Ferrari Locations: Maranello, Italy

☆ Ferrari CEO Benedetto Vigna on EV demand and the 'emotion' of the supercars
▼ + stars: | 2024-06-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFerrari CEO Benedetto Vigna on EV demand and the 'emotion' of the supercarsRobert Frank sits down for an exclusive interview with Ferrari CEO Benedetto Vigna. They discuss Ferrari's new E-Building, demand for electric cars, Ferrari as a luxury brand, and more.

Persons: Benedetto Vigna, Robert Frank Organizations: Ferrari

☆ Ferrari's CEO likes to run the luxury car company like a tech startup
▼ + stars: | 2024-04-21 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +1 min

Benedetto Vigna has been Ferrari's CEO since 2021, overseeing the company's transition to EVs. His background is in tech, with previous experience as an executive at a semiconductor company. Vigna likes the nimbleness of tech startups and removed layers of bureaucracy at Ferrari, per WSJ. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy .

Persons: Benedetto Vigna, Vigna, — Organizations: Ferrari, Service, Street, Business

☆ Ferrari boss promises 'emotion' won't be lost in EV engine roar
▼ + stars: | 2024-03-19 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

A Ferrari is parked outside the New York Stock Exchange in celebration of Ferrari's initial public offering in New York City on Oct. 21, 2015. Ferrari CEO Benedetto Vigna promised on Tuesday that the luxury carmaker's new electric vehicle will offer drivers the same roar as its historic combustion engines. The Italian company is launching its first fully electric vehicle in the final quarter of 2025 and will open a new production site in Maranello, Italy, in June to manufacture electric motors, battery packs and power inverters. Speaking to CNBC's "Squawk Box Europe" on Tuesday, Vigna said the company would maintain its focus on performance, design and driving experience in its EV range, insisting that "electric cars are not silent." "When we talk about luxury cars like our cars, we are talking about the emotion that we are able to deliver to our client, so we are not talking about functional cars like other EVs that you see on the road," he said.

Persons: Ferrari, Benedetto Vigna, Vigna Organizations: New York Stock Exchange, Ferrari Locations: New York City, Maranello, Italy

☆ Ferrari cars are about the emotion you can deliver to the driver, says CEO
▼ + stars: | 2024-03-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFerrari cars are about the emotion you can deliver to the driver, says CEOBenedetto Vigna, CEO of Ferrari, discusses the upcoming electric model that Ferrari is producing and how Ferrari will retain its racing heritage and experience while aiming to go carbon neutral by 2030.

Persons: Benedetto Vigna, Ferrari Organizations: Ferrari

☆ Ferrari finishes a record year by topping Wall Street's estimates
▼ + stars: | 2024-02-01 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Luxury sports car manufacturer Ferrari topped Wall Street's top- and bottom-line earnings expectations for the fourth quarter to finish off a record year of profits. The automaker reported a net profit of 1.26 billion euros, or $1.36 billion, for 2023, including 294 million euros, or $317.9 million, during the fourth quarter. Its adjusted earnings before interest and taxes, or EBIT, was 1.62 billion euros, or $1.75 billion, for the year, including 372 million euros, or $402.3 million, in the last quarter. Ferrari's revenue last year increased 17% to 5.97 billion euros, or $6.46 billion, including an 11% increase in the fourth quarter from 1.37 billion euros a year earlier in 2022. Such records are expected to be short-lived, as Ferrari is forecasting to top many of those results in 2024.

Persons: Ferrari, Benedetto Vigna, Lewis Hamilton Organizations: Ferrari, New York Stock Exchange, LSEG

☆ Ferrari again raises guidance as customers opt for high-priced, personalized sports cars
▼ + stars: | 2023-11-02 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +2 min

Ferrari on Thursday said that its third-quarter profit jumped 46% from a year ago as its wealthy customers continued to choose expensive "personalization" options for their new cars. As it did last quarter, Ferrari again boosted its guidance for the full year following the results. Here are the key numbers from Ferrari's third-quarter earnings report:Earnings per share: 1.82 euros vs. 1.60 euros expected by Wall Street analysts polled by LSEG, formerly known as Refinitiv. 1.82 euros vs. 1.60 euros expected by Wall Street analysts polled by LSEG, formerly known as Refinitiv. Revenue: 1.54 billion euros vs. 1.47 billion euros expected, per LSEG.

Persons: Ferrari, Benedetto Vigna, Vigna Organizations: Ferrari, Wall Street, LSEG Locations: Europe, North, South America, China, Asia, Pacific

☆ Ferrari to accept crypto as payment for its cars in the US
▼ + stars: | 2023-10-14 | by ( Giulio Piovaccari | ) www.reuters.com time to read: +4 min

Patchy regulation and high energy usage have also prevented the spread of crypto as a means of payment. These include electric carmaker Tesla (TSLA.O), which in 2021 began to accept payment in bitcoin, the biggest crypto coin, before CEO Elon Musk halted it because of environmental concerns. Ferrari shipped more than 1,800 cars to its Americas region, which includes the U.S., in the first half of this year. Galliera did not say how many cars Ferrari expected to sell through crypto. "Prices will not change, no fees, no surcharges if you pay through cryptocurrencies," Galliera said.

Persons: Benedetto Vigna, Flavio Lo Scalzo, Elon Musk, Enrico Galliera, Reuters cryptocurrencies, Ferrari, Galliera, Bitpay, Giulio Piovaccari, Tom Wilson, Louise Heavens Organizations: Ferrari, REUTERS, Reuters, Thomson Locations: Maranello, Italy, cryptocurrency, U.S, Europe, bitcoin, cryptocurrencies, East, Africa, China, Milan, London

☆ Ferrari CEO says nearly a third of new buyers are under 40, even as wait lists grow
▼ + stars: | 2023-08-22 | by ( Robert Frank | ) www.cnbc.com time to read: +3 min

"We are a brand that is not looking for volume," Ferrari CEO Benedetto Vigna told CNBC in an exclusive interview from Pebble Beach. Founder Enzo Ferrari famously said Ferrari would produce "one less car than the market demand." Ferrari Purosangue Source: FerrariVigna said that despite limited supply, the company continues to expand its reach among younger, new clients. Vigna added that buying a Ferrari should never be easy or quick, since it's the ultimate aspirational car. "Getting a Ferrari is an experience that starts from the time you first see a Ferrari," he said.

Persons: Ferrari, Benedetto Vigna, Francesca Volpi, Enzo Ferrari, Ferrari Vigna Organizations: CNBC, Ferrari, Ford, General Motors, Ferrari NV, Bloomberg, Getty Locations: Pebble Beach, Maranello, Italy

☆ Watch CNBC's full exclusive interview with Ferrari CEO Benedetto Vigna
▼ + stars: | 2023-08-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full exclusive interview with Ferrari CEO Benedetto VignaFerrari CEO Benedetto Vigna joins CNBC's Robert Frank and 'Last Call' for an exclusive interview to talk his two years as CEO, antique Ferraris at auction, exclusivity in buying and more.

Persons: Benedetto Vigna Ferrari, Benedetto Vigna, Robert Frank Organizations: Ferrari

☆ Ferrari CEO Benedetto Vigna: The first electric Ferrari will be unveiled in Q4 of 2025
▼ + stars: | 2023-08-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFerrari CEO Benedetto Vigna: The first electric Ferrari will be unveiled in Q4 of 2025Ferrari CEO Benedetto Vigna joins CNBC's Robert Frank and 'Last Call' for an exclusive interview to talk his two years as CEO, antique Ferraris at auction, exclusivity in buying and more.

Persons: Benedetto Vigna, Robert Frank

☆ Ferrari raises guidance after profit jumps as more customers personalize their sports cars
▼ + stars: | 2023-08-02 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +1 min

Ferrari on Wednesday said that its second-quarter profit jumped 33% from a year ago as more of its customers chose costly "personalization" options for their new sports cars. The company now expects 2023 revenue of about 5.8 billion euros and per-share profit of between 6.25 and 6.40 euros. It had previously guided investors to full-year revenue of about 5.7 billion euros and per-share profit between 6.00 and 6.20 euros. Ferrari reported profit of 334 million euros, or 1.83 euros per share, an increase of 33% over profit of 251 million euros, or 1.36 euros per share, during the same period a year earlier. Revenue increased 14% year over year to 1.47 billion euros.

Persons: Ferrari, Benedetto Vigna, personalizations Organizations: Ferrari, Revenue Locations: personalizations

☆ Ferrari nudges up year forecasts after Q2 results, investors unimpressed
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +3 min

EBITDA of 2.19-2.22 bln euros this yearForecast on FY EBITDA margin unchanged at 38%FY revenue expected to grow to around 5.8 bln eurosAdj. The Italian company guided for adjusted earnings before interest, tax, depreciation and amortization (EBITDA) to grow to between 2.19 billion euros and 2.22 billion euros ($2.40 billion - $2.44 billion) this year, versus a previous forecast of between 2.13 billion and 2.18 billion euros. The expected cash generation was also broadly unchanged, at around 900 million euros versus a previous guidance of up to 900 million euros. Ferrari shares, which are up around 40% this year, erased small daily gains after the results were published. In the second quarter, adjusted EBITDA grew 32% to 589 million euros, in line with analysts' expectations of 580 million euros, according to a Reuters poll.

Persons: Andrew Boyers, Benedetto Vigna, Bernstein, Daniel Roeska, Vigna, Giulio Piovaccari, Gianluca Semeraro, Keith Weir, Sharon Singleton Organizations: Prix, Silverstone Circuit, REUTERS, Ferrari, Daytona, EMEA, Thomson Locations: Silverstone, Britain, MILAN, Italian, personalisations

☆ Ferrari does not need to buy other supercar makers, CEO says
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +1 min

Companies Ferrari NV FollowMILAN, June 5 (Reuters) - Ferrari (RACE.MI) has no plans to purchase other sports car makers, the company's Chief Executive Benedetto Vigna said on Monday. "I don't think it makes sense for us to buy other supercar makers," Vigna said during a conference organized by Bloomberg, replying to a question about possible M&A operations by the Italian company. Vigna said Ferrari would finish building a new assembly facility, its so called 'e-building', in its Maranello hometown in June next year. The CEO said that Ferrari would not only be making fully-electric cars on the new assembly-line. Reporting by Giulio Piovaccari, editing by Gavin JonesOur Standards: The Thomson Reuters Trust Principles.

Persons: Benedetto Vigna, Vigna, Ferrari, Giulio Piovaccari, Gavin Jones Organizations: MILAN, Bloomberg, Thomson Locations: Italian

☆ Ferrari doesn't care about autonomous vehicles, CEO says
▼ + stars: | 2023-05-09 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

Ferrari's CEO says the company doesn't care about self-driving technology. Benedetto Vigna told a car summit hosted by the FT the group had the tech in place to build EVs. Ferrari doesn't care about technology for an autonomous vehicle, its boss says, reinforcing the company's intention to never build self-driving cars. There is performance software, there is comfort software, there is infotainment software, and there is autonomous," Vigna said. He suggested the company's shunning of self-driving software helped the group mostly stick to that tradition.

☆ Ferrari profit jumps 24% as demand pushes waiting list into 2025
▼ + stars: | 2023-05-04 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +3 min

Here are the key numbers from Ferrari's first-quarter earnings report, compared with Wall Street analysts' consensus expectations as reported by Refinitiv:Earnings per share: 1.63 euros, vs. 1.48 euros expected. 1.63 euros, vs. 1.48 euros expected. Revenue: 1.43 billion euros, vs. 1.39 billion euros expected. Revenue increased 20% year over year, to 1.43 billion euros from 1.19 billion euros in the first quarter of 2022. It still expects revenue of about 5.7 billion euros in 2023, with adjusted earnings per share between 6 euros and 6.20 euros.

☆ Ferrari’s green journey takes surprise turn: podcast
▼ + stars: | 2023-03-30 | by ( Lisa Jucca | ) www.reuters.com time to read: 1 min

MILAN, March 30 (Reuters Breakingviews) - Europe’s plan to support carbon-neutral fuels is good news for the $50 bln luxury carmaker, CEO Benedetto Vigna says on the Exchange podcast. It will allow the group to flog the roaring engines that made its fortune. Listen to the podcastFollow @LJucca on TwitterSubscribe to Breakingviews’ podcasts, Viewsroom and The Exchange. Editing by Oliver TaslicOur Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Europe throws ignition cars a thin lifeline
▼ + stars: | 2023-03-28 | by ( Lisa Jucca | ) www.reuters.com time to read: +4 min

Bowing to pressure from automaking Germany, the European Union has agreed to exempt cars that run on carbon-neutral synthetic fuel from a ban on new combustion engine vehicles in 2035. loadingFor mass-market brands, electric cars will likely remain the cheapest option. RBC industry analysts expect electric and plug-in hybrid vehicles to make up 90% of Western European passenger vehicle sales by 2035. Yet, it will do little to stop the hollowing out of Europe’s combustion engine supply chain. The deal paves the way for EU ministers to approve the 2035 phaseout law for CO2-emitting cars on March 28.

☆ Ferrari CEO welcomes EU decision on e-fuels
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: 1 min

Companies Ferrari NV FollowMILAN, March 27 (Reuters) - The chief executive of Ferrari (RACE.MI) on Monday welcomed plans to exempt cars that run on e-fuels from the European Union's planned 2035 phaseout of new combustion engine vehicles. The decision would give the luxury Italian carmaker "greater freedom on the propulsion scheme," CEO Benedetto Vigna told a Reuters newsmaker event. Ferrari, which is renowned for its roaring petrol engines, is already producing plug-in hybrid cars and has promised its first full-electric vehicle for 2025. Reporting by Lisa Jucca and Giulio Piovaccari; writing by Keith Weir; editing by Alvise ArmelliniOur Standards: The Thomson Reuters Trust Principles.

☆ F1 team bosses have their own light-bulb moment
▼ + stars: | 2023-02-26 | by ( Alan Baldwin | ) www.reuters.com time to read: +4 min

LONDON, Feb 26 (Reuters) - The late McLaren boss Teddy Mayer liked to compare Formula One drivers to interchangeable light-bulbs, declaring "you plug them in and they do the job", and nowadays the same might be said for team principals. The Frenchman is on his third different team, after stints at Sauber and Renault. "It shows also that the role of the team principal is maybe sometimes also a bit over-rated because if you can change it so quickly and there is no big impact, it tells also something. Sauber, with Swedish billionaire Finn Rausing as chairman of the board, will become the Audi works team from 2026. "But other than that we must not forget that F1 teams have developed into big organisations where the owners are not any more the team principals... some have engineers as team principals, some have more an old-fashioned rule."

☆ Ferrari CEO says Tesla's success was a 'wake up call' for the auto industry
▼ + stars: | 2023-02-13 | by ( Bianca Giacobone | ) www.businessinsider.com time to read: +2 min

Ferrari is an "emotional car" while Tesla is a "functional car," he said. Ferrari plans to unveil its first fully electric car in 2025, taking it to market in 2026. And Tesla certainly got things moving for the electrification of the automotive industry, Ferrari CEO Benedetto Vigna told Bloomberg. While investing in electric cars, it will "keep offering a mix of technology for as long as it's feasible. As "functional" electric cars, to use Vigna's words, become more and more popular, luxury automakers like Ferrari are getting ready to enter the market.

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