Ferrari Reports Record Bonuses Amidst Strategic Shift Towards Electric Vehicles
Ferrari has announced a record bonus payout of nearly €15,000 to its approximately 5,000 Italian employees, despite a slight decrease in car deliveries in 2024. This comes as the company prepares for a significant transition in its model lineup, particularly with the upcoming launch of its first fully electric vehicle, the Luce.
Financial Performance and Bonus Details
The substantial bonus, totaling approximately €75 million, reflects a strong financial performance in 2024. Ferrari’s revenue increased by 7% to €7.15 billion, and net profit rose by 5% to €1.6 billion . This growth was bolstered by contributions from financial services and engine sales to partners like Maserati and Formula 1 teams .
Strategic Shift and Production Adjustments
While Ferrari delivered 13,640 cars in 2024, 112 fewer than the previous year, the company intentionally moderated delivery numbers to facilitate preparations for the introduction of new models, especially the highly anticipated electric Luce . The company’s five-year plan outlines a product lineup comprised of 40% internal combustion engines, 40% hybrid vehicles, and 20% electric vehicles by 2030 . This represents a scaling back from earlier plans that envisioned 40% of the lineup being electric by 2022.
The Ferrari Luce: A New Era
Ferrari’s first fully electric vehicle, the Luce, is expected to deliver over 1,000 horsepower and achieve a 0-100 km/h acceleration time of just 2.5 seconds . The design of the Luce will be revealed in the spring, with deliveries slated to start in late 2026 . Ferrari anticipates that the Luce will attract new customers to the brand .
Other Upcoming Models
Beyond the Luce, Ferrari has several other models planned for release in 2025 and beyond. These include the 296 VS, an enhanced version of the 296 GTS and GTB designed for track performance; the SF90 M, an updated version of the SF90 Stradale; and an evolution of the Roma grand touring car . The company plans an average of four new launches per year through 2030 .
Despite the positive outlook, the announcement of the electric vehicle debut was met with a negative market reaction, with Ferrari’s stock experiencing its worst trading day since its 2016 IPO, falling 15% on both the Milan and New York Stock Exchanges .