Ferrari outlines new five year business plan

- ASSOCIATED PRESS, MARANELLO (Italy)

Sep 19, 2018-

Sportscar maker Ferrari is blazing its trail under new leadership on limited edition cars based on iconic models of the past, unveiling on Tuesday the first in the Icona special series billed as the most-powerful road car in the company’s history.

Ferrari presented its Monza SP1 and SP2 sportscars—based on the classic open-top “barchetta” racing model of the 1940s and 1950s with revved-up Formula 1 technology—on the day that the new CEO, Louis Camilleri, was outlining a 5-year business plan. Camilleri took over in July after the unexpected death of CEO Sergio Marchionne, who had long anticipated his plans to transform Ferrari into a luxury goods company that focuses on high-end consumer products beyond cars.

Chairman John Elkann expressed sadness at Marchionne’s sudden death, saying “he loved everything about Ferrari” and had been “looking forward to spending more time here in the coming years after his planned retirement next year from FCA,” the mass-market carmaker Fiat Chrysler Automobiles.

Elkann said that Camilleri “understands perfectly the significance of our heritage ... to the success of the plans presented today.”

Published: 19-09-2018 09:10

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