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MILAN — MILAN (AP) — Italian luxury sports carmaker Ferrari raised its 2025 guidance on Thursday, despite global 15% tariffs on foreign car imports to the United States, as the company unveiled the new powertrain and chassis of its first fully electric production vehicle.
Ferrari CEO Benedetto Vigna declined to give target production numbers or a price for the Ferrari Elettrica, which will be delivered beginning late next year, with the design to be revealed in the spring.
Under the carmaker’s new five-year plan, 40% of the product lineup will be the brand’s core internal combustion engines, 40% will be hybrid and 20% will be electric by 2030, with an average of four new launches a year in the period. The new business plan calls for more models with lower volumes of each.
The fully electric vehicle Ferrari Elettrica represents a new segment that Vigna said would bring new buyers to Ferrari. It builds on 15 years of electrification research at Ferrari, starting with Formula 1 technology that was first incorporated into the limited edition La Ferrari hybrid supercar that debuted in 2013.
To maintain the sports car feel and emotions integral to the Ferrari experience, the Elettrica will capture powertrain vibration through accelerometers on the rear axle that will be amplified to create a sports car roar. Drivers also can select five power levels using steering panels to create the sensation of continuous acceleration.
Ferrari also is manufacturing most critical components internally, including the battery system and software. The chassis and body shell will be made out of 75% recycled aluminum, saving 6.7 tons of carbon dioxide per vehicle.
In raising its forecast, Ferrari said that revenues this year would top 7.1 billion euros ($8.2 billion), up from more than 7 billion euros in the previous guideline. Ferrari also targets earnings before interest, taxes, depreciation and amortization, or EBITDA, of 2.7 billion euros with a margin of more than 38.3%.
Presenting its five-year plan, the Formula 1 racing team and sports carmaker that has expanded into luxury goods is projecting net revenues of 9 billion euros by 2030 with and EBITDA of at least 3.6 billion euros on 40% margins.
Chief Financial Officer Antonio Picca Piccon said that the confirmation of 15% tariffs on European car imports to the U.S. removed “an important element of uncertainty.” The targets were raised based on solid business performance and increased revenues from the sports car business.
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LOS ANGELES — LOS ANGELES (AP) — When rapper-actor Common was a kid, he carried towels and sneakers as a Chicago Bulls ball boy who was close enough to hear the squeak of shoes and the roar inside the arena.
Decades later, Common is helping set…
The Public Company Accounting Oversight Board (PCAOB) announced today that PCAOB Board Member Kara M. Stein will host an in-person forum on auditing in the small business environment and on auditing broker-dealers on November 12, 2025. The one-day event – part of a series of 2025 forums – will take place at Loyola Marymount University (St. Robert’s Hall, 1 LMU Drive, Los Angeles, CA, 90045).
“Auditors of smaller public companies and of broker-dealers make up essential parts of the auditing landscape and our investor-protection framework,” said Board Member Stein. “The PCAOB is dedicated to engaging with our stakeholders in support of vibrant capital markets, and I look forward to continuing this dialogue in Los Angeles.”
Tailored to PCAOB-registered firms auditing smaller public companies or broker-dealers, the forums provide a unique opportunity for auditors to interact with representatives from the PCAOB and other regulators.
In addition to remarks from Board Member Stein, the agenda includes the following:
There is no fee to attend the Los Angeles forum, but advance registration is required and can be completed here. While the event is in-person only, a recording of the event will be made available on the PCAOB’s website. Attendees can earn continuing professional education (CPE) credits.
Forum attendees are encouraged to submit questions in advance via email. There also will be an opportunity to submit questions during the forum.
Visit the PCAOB’s Information for Smaller Firms page – which the PCAOB maintains as part of its ongoing efforts to support smaller audit firms – to find resources including publications, videos, and a sign-up form for the Communications to Small Audit Firm Practitioners mailing list.
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The PCAOB is a nonprofit corporation established by Congress to oversee the audits of public companies in order to protect investors and further the public interest in the preparation of informative, accurate, and independent audit reports. The PCAOB also oversees the audits of brokers and dealers registered with the Securities and Exchange Commission, including compliance reports filed pursuant to federal securities laws.