Published by Global Banking and Finance Review
Posted on April 29, 2025
MARANELLO, Italy (Reuters) - Ferrari refreshed its hybrid range on Tuesday with the new 296 Speciale and its convertible version as the luxury sports car maker prepares for its first leap into the fully electric era.
Ferrari, which will present its first EV in October, showcased the two new plug-in hybrid models at its Maranello headquarters, in northern Italy.
They are based on the 2021 Ferrari 296, a car now approaching the end of its life cycle.
The 296 Speciale is lighter, more powerful and with improved aerodynamics, Chief Marketing and Commercial Officer Enrico Galliera said, adding it was focused on performance and driving pleasure.
"It's not a car for everyone, we won't widen our client base with it," he said during the presentation.
"It's a model for our historic clients, who know Ferrari very well and seek driving thrill".
The 296 Speciale packs a three-litre, six-cylinder, 700 horsepower combustion engine. Its electric component adds a further 180 horsepower.
Deliveries are expected to start in the first quarter of next year, while the retractable top version, known as the 'A', will be available in the second quarter.
The new car will have a price tag in Italy of 407,000 euros ($449,000), rising to 462,000 euros for the convertible, which puts them in the mid- to high-end of Ferrari's price range.
Prices will be higher in the United States by an amount still to be defined, Galliera said, after Ferrari announced last month it was increasing prices of some of its cars in the country by up to 10% in response to tariffs.
Only some models approaching the end of their life cycles are being excluded from U.S. price increases.
Order books for the 296 Speciale open on Tuesday, but interest is already high, Galliera said. Clients who have interacted with an official Ferrari dealer in the past five years will have a priority in placing orders.
Though not a limited-series model, its exclusivity will be preserved by keeping its life cycle shorter than the four-to-five years typical for other Ferrari models, Galliera added.
Ferrari's first fully electric car, breaking its tradition of roaring petrol engines, will be unveiled on Oct. 9 in Maranello.
"It will be something completely different. But we've been developing skills on components for EVs for more than a decade," Galliera said.
CEO Benedetto Vigna reaffirmed this month Ferrari would continue to make petrol and hybrid cars, as well as EVs. He added the company would launch a total of six new models this year, including the fully-electric one.
($1 = 0.9060 euros)
(Reporting by Giulio Piovaccari; Editing by Mark Potter)
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