Ferrari chairman John Elkann branded his commitment to the iconic outfit as a “personal matter”, with share prices having suffered an unwelcomed blow.

That occurred after Ferrari issued updated earnings guidance on Thursday via its Capital Markets Day event, as shares took an alarming fall in several key markets. Ferrari’s financial forecasts proved underwhelming in some sections of the investment world.

Ferrari suffers record share price hit

As part of its Capital Markets Day initiative, Ferrari announced an anticipated revenue of €7.1 billion ($8.2b) for the year, rising to the €9 billion ($10.4b) region by 2030. Adjusted earnings were also anticipated to be up to €3.6 billion ($4.2b), as a minimum, by that date.

Such figures did not spark universal optimism, which was reflected in

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