MILAN (AP) — Italian luxury sports carmaker Ferrari raised its 2025 guidance on Thursday in the face of global 15% tariffs on foreign car imports to the United States as the company unveiled the new powertrain and chassis of its first fully electric production vehicle.

Yet the debut of its electric vehicle was marred by the company's worst trading day since going public in 2016. Industry analysts had expected much greater long-term growth and shares plunged 15% on the Milan Stock Exchange and about the same on the New York Stock Exchange.

Ferrari CEO Benedetto Vigna declined to give target production numbers or a price for the Ferrari Elettrica, which will be delivered beginning late next year, with the design to be revealed in the spring.

Under the carmaker’s new five-year plan, 40% of

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