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Ferrari pushes back profit goal amid pandemic
Ferrari pushed back its profit target for next year after delaying investments and some deliveries in the pandemic but stuck to its timetable for a first electric car by 2025. The luxury carmaker famed for its ‘Cavallino Rampante', or ‘Prancing Horse‘, badge had predicted adjusted core earnings of 1.8-2.0 billion euros ($2.2-$2.4 billion) in 2022. But on Tuesday, the Italian company said it was postponing that target to 2023 because of the pandemic, even though it expects results to grow this year and next. 'We expect the prudent steps we took in 2020 and are continuing in 2021 to adjust our expenditure in response to the COVID-19 emergency will postpone by one year the...
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