Ferrari unveils new 'Amalfi' petrol coupe ahead of EV launch

Ferrari unveiled its new Amalfi petrol coupe, an 8-cylinder model priced at 240,000 euros, which replaces the Roma in its entry segment with deliveries beginning Q1 next year. This launch underscores Ferrari's strategy of maintaining a pure internal combustion engine offering alongside its hybrid models, even as the company prepares for its first EV unveiling in October. Notably, a second, broader-market EV is not anticipated before 2028, citing a current lack of demand for high-performance luxury EVs, signaling a measured pace for the brand's wider electrification efforts.

Analysis

Ferrari's unveiling of the new Amalfi coupe underscores its deliberate dual-track strategy, balancing the continued rollout of high-margin internal combustion engine (ICE) models with a measured entry into the electric vehicle market. The Amalfi, priced at 240,000 euros, replaces the successful Roma model and reinforces Ferrari's core offering with a 640-horsepower pure petrol engine, indicating sustained investment in its traditional strength. This launch is strategically significant as it precedes the planned unveiling of its first EV in October. However, the report that a second, broader-market EV is not expected before 2028 due to a "substantial lack of demand for high-performance luxury EVs" provides critical insight into the company's pragmatic and demand-driven approach to electrification. This cautious timeline contrasts with more aggressive EV transitions by other automakers and suggests Ferrari intends to leverage its profitable ICE and hybrid portfolio to fund a gradual, de-risked shift. With deliveries for the Amalfi starting in Q1 2025 and strong initial client interest reported, the new model is poised to support near-term revenue and cash flow.

Key Decisions for Investors

• Investors should view the Amalfi launch as a reaffirmation of Ferrari's strategy to maximize profitability from its core ICE models, which will likely fund a cautious and deliberate long-term EV transition.
• The delayed timeline for a second EV model until at least 2028 signals that significant volume growth from electrification is a distant prospect; therefore, near-term performance will remain heavily dependent on the success of ICE and hybrid models like the Amalfi.
• Monitor the order book strength for the Amalfi and the impact of US tariffs on its pricing and demand, as these will be key indicators of the brand's pricing power and a primary driver of revenue in 2025.