2005 Ferrari 612 Scaglietti Base Coupe 2-door 5.7l on 2040-cars

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Ferrari hybrids, SUV are in the plan to double earnings by 2022

Italian carmaker aims for core earnings of 2 bln euros by 2022 CEO Marchionne does not rule out smaller engines in the future If true electric supercar is ever made, it will be a Ferrari - CEO Shares rise more than 8 percent after mid-term targets released MILAN — Ferrari is looking to double core earnings to 2 billion euros ($2.5 billion) by no later than 2022 and become debt free a year earlier, betting on firm demand for supercars and new launches, including hybrids and an SUV. CEO Sergio Marchionne does not expect to double deliveries, but aims to keep pushing technological boundaries, launch new special editions and expand a customisation program to drive profit margins, which stood at 30 percent last year. Ferrari is also expanding its product range to vehicles that appeal to a larger demographic. Hybrids will be part of the portfolio from 2019, and an SUV is expected to be launched by late 2020. Downsizing engines was a possibility in future as long as Ferrari's uniqueness is preserved, Marchionne said. "We are absolutely convinced that these numbers are doable," Marchionne told analysts on a conference call, adding that profit margins could rise to at least 36 percent by 2022. "The house is firing on all cylinders, we are in a good place." The Italian group's medium-term outlook helped push its shares up more than 8 percent at one point on Thursday. They closed 7.5 percent higher at 103.2 euros. Ferrari's forecast suggests an average annual core earnings growth of 14.1 percent, or 17.9 percent, if it achieves the target a year early, said George Galliers, an analyst at Evercore ISI. "This type of earnings growth is unlikely to be seen by any other automotive OEM over the coming five years," Galliers said. However, he said the stock was not cheap and it remained to be seen if projected growth would be enough to attract investors over the coming months. After being spun off from Fiat Chrysler two years ago, Ferrari has sought to show it can increase profits without the backing of its parent. The group has clocked up several years of record earnings, helped by a number of special edition models. Ferrari reported on Thursday an 18 percent rise in 2017 adjusted earnings before interest, tax, depreciation and amortization (EBITDA) to 1.04 billion euros, in line with analysts' expectations and helped by sales of its 12-cylinder models. They include the GTC4Lusso and the 812 Superfast, the company's most powerful model to date.

Steve McQueen's Ferrari 275 GTB/4 To Be Auctioned In Monterey

We know from many, many years of watching classic car auctions, that there are certain qualities that ensure big money. For example, putting tiny silver horses and/or yellow badges on a red car will probably bring in a lot of cash. This is doubly true if said car hails from the 1950s or 1960s, and it's triply true if some dude drove it around in circles or if a celebrity owned it. That, friends, is how you make the serious dosh at auction. Considering that, we should expect big, big things when this 1967 Ferrari 275 GTB/4 crosses the block at the big RM Auctions event during the festivities surrounding the 2014 Pebble Beach Concours d'Elegance. Terrence Steven McQueen, better known as Steve McQueen and even better known as the coolest actor of the 1960s and 1970s, originally purchased this car while filming Bullitt in San Francisco, which should provide a big boost to its sale price. As previously reported, this car has undergone a full restoration and has received its certification from the team at Ferrari Classiche. Beyond that, though, we're kind of in the dark about this beauty. We don't even have a rough guess of how much it'll go for. That's where you come in. Considering that the price of classic Ferraris is increasing with all the regularity of Old Faithful, how much do you think McQueen's 275 will call for when it hits the stage in August? Head into Comments and let us know.

Petrolicious goes running up that Hill in a Ferrari 250 GTO

We might not ordinarily run a seven-minute clip of in-car footage. But this is no ordinary car, it's not being driven by any ordinary driver, and it wasn't put up by just any YouTube user. This is video of a Ferrari 250 GTO once raced by Phil Hill, being driven by his son, Derek Hill, in a hillclimb for Petrolicious. The footage was captured during the making of a previous clip, entitled The Ferrari 250 GTO Speaks for Itself and released over a year ago. Since it was left over after production, the Petrolicious uploaded it here for our enjoyment. Of course the GTO should require no introduction, being one of the most sought-after classics the world has ever known. And neither should Derek Hill. While the former's clout goes without saying, Hill's skills warrant repeating. The late legend Phil Hill was one of the few Americans to succeed in European racing in the 1960s, with a Formula One World Championship title and three Le Mans wins to his name. Derek may never have reached his father's level of success, but he's won races and titles in both formula and sports-car racing, and was among the last to professionally race a Bugatti when he campaigned an EB110 at Daytona back in 1996. The point is, the guy can drive, and you can see that much for yourself from the video above. Related Video: