Ferrari’s stock price crashed on Thursday in both Europe and the U.S. after the company gave new earnings guidance that disappointed analysts. It was the luxury carmaker’s worst trading day ever.

Key Points:

  • Ferrari’s shares fell almost 15% to just over $407 on the New York Stock Exchange. This was the company’s biggest one-day drop since it started trading in the U.S. in 2015.

  • In Milan, the stock fell more than 14%, losing about €60 and closing at around €357.60. This was the biggest fall since Ferrari listed on the Italian exchange in 2016.

  • Ferrari said at its Capital Markets Day that it expects €7.1 billion in revenue this year, slightly higher than previous forecasts. It also expects revenue to reach €9 billion by 2030 and adjusted earnings of at least €3.6 billion, up from just under €2.7 billion.

  • RBC Capital analyst Tom Narayan said Ferrari’s new 2030 earnings forecast is much lower than what it projected in 2022. This made investors fear slower growth in the future.

  • He also said the new outlook is more cautious and even lower than Citi’s worst-case forecast.

  • Investment research firm CFRA downgraded Ferrari’s stock from “hold” to “sell” and cut its price target from $475 to $350, warning of slower growth ahead.

Key Quote

Ferrari’s CEO, Benedetto Vigna, said while discussing the company’s long-term plans: “People might have expected higher revenue, but what matters is that we deliver on our promises. We won’t make commitments we can’t keep.”

Opposing View

Some analysts still believe Ferrari’s future looks strong. JPMorgan said they have “great confidence” in Ferrari reaching its long-term goals, noting that demand is much higher than supply. Deutsche Bank also showed confidence by upgrading Ferrari’s stock to a “buy” and raising its price target to €520.

Related News

Earlier on Thursday, Ferrari said it would reduce its plans to produce electric vehicles. The company now aims for a mix of 40% gasoline, 40% hybrid, and 20% fully electric cars—less than its previous goal of 40% EVs. This change came as Ferrari introduced its first electric car, the “Elettrica,” which will be delivered in late 2026. Other automakers, like Volvo, have also reduced their electric vehicle goals. Volvo has dropped its plan to sell only EVs by 2030.

Published: 10th October 2025

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