Ferrari's First PHEV Delayed
You’ll be crushed to learn that Ferrari’s SF90 Stradale has been delayed on account of the pandemic.
By nature of being the brand’s very first plug-in hybrid, the SF90 is incredibly complex. The model relies on a trio of electric motors working in tandem with its turbocharged 4.0-liter V8 to achieve a maximum output of 986 horsepower and 590 lb-ft. Electrification also requires the Stradale to have a small, 7.9 kWh lithium-ion battery, regenerative brakes and a totally new 8-speed transmission.
The grocery list of essential (and novel) items turned out to be problematic as supply chains were disrupted the world over by coronavirus-related lockdowns. Originally scheduled for delivery this summer, the SF90 is being pushed back to the end of the year as Ferrari waits for idled supply chains to catch up. The manufacturer admitted that its own shutdowns haven’t helped it get out the door any faster.
“We are confident that deliveries to our clients will begin early in the fourth quarter, but the ramp-up in production will inevitably be delayed,” Automotive News quoted CEO Louis Camilleri as saying during this week’s earnings call.
Camilleri noted that delaying the Stradale was the last thing Ferrari wanted, but said it was unavoidable due to its overwhelming complexity. He wagered that this would also cause issues as the brand attempted to increase production as its parts supply became more reliable. “We have very strict tolerance levels in terms of the industrialization phase, and therefore conformity in high volumes is not easy to achieve,” he said.
Ferrari trimmed its sales forecasts for this year after reporting decreased core earnings in the second quarter due to the pandemic; it also revised the guidance on adjusted earnings before interest, tax, depreciation and amortization (EBITDA) to between 1.075 billion euros and 1.125 billion euros ($1.26 billion and $1.32 billion) this year, from a May adjusted EBITDA guidance of 1.05 billion euros to 1.2 billion euros.
Ferrari CFO Antonio Picca Piccon said during the call that a softer product mix, reflecting the SF90 Stradale delay, accounted for a lower profit margin. The supercar will sell for 430,000 euros ($509,000) in Italy, nearly 100,000 euros more than Ferrari’s current most expensive series car, the 336,000 euro 812 GTS 12-cylinder roadster.
Customers will now have to wait substantially longer than the initial 18-month period Ferrari suggested to get their paws on a SF90 of their very own. Saying the delay is unacceptable, Camilleri promised the company would do everything in its power to remedy the situation.
The Stradale is supposed to arrive in the United States a couple months after deliveries begin in Europe. As things currently stand, that should take place early in 2021. However, some customers may end up having to wait until 2022 to actually take delivery of their new plaything if Ferrari can’t accelerate production. Fortunately, the Roma grand tourer is believed to be more or less on track, and the pandemic isn’t supposed to delay any of the brand’s 2020 product debuts scheduled for the fall.
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- Tassos I also want one of the idiots who support the ban to explain to me how it will work.Suppose sometime (2035 or later) you cannot buy a new ICE vehicle in the UK.Q1: Will this lead to a ICE fleet resembling that of CUBA, with 100 year old '56 Chevys eventually? (in that case, just calculate the horrible extra pollution due to keeping 100 year old cars on the road)Q2: Will people be able to buy PARTS for their old cars FOREVER?Q3: Will people be allowed to jump across the Channel and buy a nice ICE in France, Germany (who makes the best cars anyway), or any place else that still sells them, and then use it in the UK?
- Tassos Bans are ridiculous and undemocratic and smell of Middle Ages and the Inquisition. Even 2035 is hardly any better than 2030.The ALMIGHTY CONSUMER should decide, not... CARB, preferably WITHOUT the Government messing with the playing field.And if the usual clueless idiots read this and offer the tired "But Government subsidizes the oil industry too", will they EVER learn that those MINISCULE (compared to the TRILLIONS of $ size of this industry) subsidies were designed to help the SMALL Oil producers defend themselves against the "Big Oil" multinationals. Ask ANY major Oil co CEO and he will gladly tell you that you can take those tiny subsidies and shove them.
- Dusterdude The suppliers can ask for concessions, but I wouldn’t hold my breath . With the UAW they are ultimately bound to negotiate with them. However, with suppliers , they could always find another supplier ( which in some cases would be difficult, but not impossible)
- AMcA Phoenix. Awful. The roads are huge and wide, with dedicated lanes for turning, always. Requires no attention to what you're doing. The roads are idiot proofed, so all the idiots drive - they have no choice, because everything is so spread out.
- Leonard Ostrander Pet peeve: Drivers who swerve to the left to make a right turn and vice versa. They take up as much space as possible for as long as possible as though they're driving trailer trucks or school busses. It's a Kia people, not a Kenworth! Oh, and use your turn signals if you ever figure out where you're going.