Ferrari Full-Year Volumes Expected to Fall -- Market Talk

Dow Jones01-09

0914 GMT - Ferrari could report a year-on-year decline in fourth-quarter deliveries, which would consequently result in lower full-year volumes, Deutsche Bank analyst Nicolai Kempf writes. In addition, several new product launches are likely to pressure the cost structure until deliveries commence from the first quarter of 2026 onward, he adds. A notable headwind for fourth-quarter deliveries will be lower volumes of supercar and icona models, as Deutsche Bank looks for only 15 F80 deliveries, compared to approximately 68 Daytona SP3s in the same quarter of 2024. Currency fluctuations are also expected to remain a headwind, Kempf adds. The bank lowers its target price on the stock to 450 euros from 460 euros and keeps at buy. Shares fall 0.2% to 320.90 euros. (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

January 09, 2026 04:15 ET (09:15 GMT)

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A notable headwind for fourth-quarter deliveries will be lower volumes of supercar and icona models, as Deutsche Bank looks for only 15 F80 deliveries, compared to approximately 68 Daytona SP3s in the same quarter of 2024. Currency fluctuations are also expected to remain a headwind, Kempf adds. The bank lowers its target price on the stock to 450 euros from 460 euros and keeps at buy. Shares fall 0.2% to 320.90 euros. (dominic.chopping@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 09, 2026 04:15 ET (09:15 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Ferrari Full-Year Volumes Expected to Fall -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFerrari Full-Year Volumes Expected to Fall -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-01-09 17:15</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0914 GMT - Ferrari could report a year-on-year decline in fourth-quarter deliveries, which would consequently result in lower full-year volumes, Deutsche Bank analyst Nicolai Kempf writes. In addition, several new product launches are likely to pressure the cost structure until deliveries commence from the first quarter of 2026 onward, he adds. A notable headwind for fourth-quarter deliveries will be lower volumes of supercar and icona models, as Deutsche Bank looks for only 15 F80 deliveries, compared to approximately 68 Daytona SP3s in the same quarter of 2024. Currency fluctuations are also expected to remain a headwind, Kempf adds. The bank lowers its target price on the stock to 450 euros from 460 euros and keeps at buy. Shares fall 0.2% to 320.90 euros. 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","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"RACE":"法拉利","BK4099":"汽车制造商","BK4588":"碎股","BK4585":"ETF&股票定投概念","BK4548":"巴美列捷福持仓","BK4555":"新能源车"},"translate_title":"法拉利全年销量预计将下降——市场传言","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RACE":1.5},"content_text":"0914 GMT - Ferrari could report a year-on-year decline in fourth-quarter deliveries, which would consequently result in lower full-year volumes, Deutsche Bank analyst Nicolai Kempf writes. In addition, several new product launches are likely to pressure the cost structure until deliveries commence from the first quarter of 2026 onward, he adds. A notable headwind for fourth-quarter deliveries will be lower volumes of supercar and icona models, as Deutsche Bank looks for only 15 F80 deliveries, compared to approximately 68 Daytona SP3s in the same quarter of 2024. Currency fluctuations are also expected to remain a headwind, Kempf adds. 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