Ferrari suffered its worst trading day on record on Thursday last week, with shares tumbling 15% after the luxury carmaker unveiled more cautious long-term growth targets. The company said adjusted earnings would rise about 6% annually through 2030, down from the 10% rate it projected three years ago for 2022–2026, according to RBC Capital Markets. The downgrade pushed Ferrari’s year-to-date performance into the red.

At an investor day in Maranello, Ferrari also revealed performance details of its first electric model, the Elettrica, due in late 2026. The car will feature four motors, generating more than 1 000 horsepower, reaching 100 km/h in 2.5 seconds, and topping out at 310 km/h (193 mph).

Chief Executive Officer Benedetto Vigna acknowledged investor disappointment, saying: “I think people were expecting a higher top line, but I think it is important that we execute what we say. We cannot commit on something we cannot achieve.”

Ferrari also cut its EV goal to 20% of sales by 2030, from 40%. Despite the sell-off, it remains Europe’s most valuable automaker, ahead of Porsche and Lamborghini.