Ferrari cancels its second electric model due to "nonexistent demand"
Those in Maranello realize that a large part of their customers do not want to buy electric cars and are reorienting their strategy.
Ferrari customers don't want electric cars, says a Reuters report. Internal company sources assure this outlet that there is "zero demand" for the brand's electric-powered sports cars, even though these are equally or more powerful than equivalent combustion models. Astronomical prices for limited and exclusive units.
Ferrari's business plan through 2030, presented by the brand's CEO, Benedetto Vigna, involved unveiling its first fully electric model this year and a second in 2028, a date that now seems all but sealed. Ferrari's 2030 targets predicted that electric vehicles would account for a 40% market share of total production that year, hybrids would account for another 40% of total sales, and combustion-engine vehicles would be reduced to just 20% of the market, a figure that hardly seems like a supercar.
The rich don't want electric cars?
Although Ferrari plans to unveil its first electric model later this year or early next year and deliver the first units of its first electric car in the last quarter of 2026, the current demand, as well as customer reservations, show a clear trend toward purchasing models with combustion engines.
One of the reasons for the brand's shift in electrification strategy was the unexpected success of the Purosangue, the brand's first SUV. Many analysts and experts agreed that including an SUV in the Maranello lineup was sacrilegious, but the enthusiastic customer response was the catalyst for the Italian brand's decision. The key to the Purosangue's success is also its legendary V12 engine and groundbreaking aesthetics, not to mention its exclusive price tag (over €450,000).
The other stumbling block Ferrari is facing with its electric sports cars is the technical challenge of integrating the weight of lithium batteries into cars designed and built to achieve a high level of performance both on winding roads and on the circuits where the Maranello brand stakes its reputation.
The final reason—and arguably the most decisive—that explains the cancellation of Ferrari's second electric vehicle is precisely that the first model isn't generating much interest among the brand's customers. For the first time in many years, Ferrari has seen how one of its cars isn't generating much enthusiasm among its fans, and it has understood that the brand's electrification process will have to be much slower and more gradual. For example, its great rival Lamborghini has also delayed its first electric vehicle until 2029, and Maserati has also abandoned its plans for full electrification of the brand.
