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.
From AN:
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.
[Images: Ferrari]
A staunch consumer advocate tracking industry trends and regulation. Before joining TTAC, Matt spent a decade working for marketing and research firms based in NYC. Clients included several of the world’s largest automakers, global tire brands, and aftermarket part suppliers. Dissatisfied with the corporate world and resentful of having to wear suits everyday, he pivoted to writing about cars. Since then, that man has become an ardent supporter of the right-to-repair movement, been interviewed on the auto industry by national radio broadcasts, driven more rental cars than anyone ever should, participated in amateur rallying events, and received the requisite minimum training as sanctioned by the SCCA. Handy with a wrench, Matt grew up surrounded by Detroit auto workers and managed to get a pizza delivery job before he was legally eligible. He later found himself driving box trucks through Manhattan, guaranteeing future sympathy for actual truckers. He continues to conduct research pertaining to the automotive sector as an independent contractor and has since moved back to his native Michigan, closer to where the cars are born. A contrarian, Matt claims to prefer understeer — stating that front and all-wheel drive vehicles cater best to his driving style.
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One more "F" sounding word and the headline would have been perfect.
Is this Maranello’s answer to Acura NSX? The resemblance is uncanny.