Ferrari plans to launch Monza retro-styled supercar

MARANELLO, Italy -- Ferrari plans to launch two limited-edition, retro-styled supercars called the Monza.

The Monza will come in one-seat and two-seat configurations, the Monza SP1 and Monza SP2, forming a pair of open-topped supercars inspired by iconic past Ferraris.

The cars will offer 810 hp and a lightweight carbon fiber body. They will be capable of accelerating from 0-62 mph in 2.9 seconds and 0-124 mph in 7.9 seconds.

The Monza models were inspired by the 1948 166 MM Barchetta and 1954 750 Monza cars that had the style of the "barchetta," a term originally used for lightweight, open-topped racing cars of the 1940s and 1950s.

"Barchettas were the most intoxicating experience for any pilot," head of product marketing Nicola Boari told a news conference on Tuesday at Ferrari's headquarters here in northern Italy.

Monza pictures were leaked on Instagram ahead of the official unveiling.

Ferrari will build fewer than 500 of the two models combined and all have been assigned to eligible clients already.

The Monza will have its public debut at the Paris auto show on Oct. 2 when its prices will be disclosed. Ferrari's special edition cars typically sell for much more than $1 million.

New business plan

The Monzas will form part of new Ferrari CEO Louis Camilleri's five-year business plan that was being presented to investors on Tuesday, broadening the automaker's offering of limited edition supercars that typically earn higher margins.

Ferrari customers usually have to wait more than a year to get delivery of a new car. Limited editions, such as the $2.1 million LaFerrari Aperta convertible, are often highly sought and go to the company's most loyal customers. They help boost earnings without losing the exclusivity of the brand.

Camilleri's strategy will be closely watched by investors, especially whether he will stick with a goal of doubling profit to 2 billion euros ($2.3 billion) by 2022, a plan put forward by his deceased predecessor, Sergio Marchionne.

Camilleri has a tough act to follow after Marchionne boosted Ferrari's value by spinning it off from Fiat Chrysler Automobiles and then doubling profit in just four years by raising production and introducing one-off models. Marchionne, who died on July 25, was preparing to expand Ferrari beyond sport cars and introduce hybrid-electric vehicles, including its first SUV.

Ferrari is banking on Camilleri getting up to speed quickly. While Marchionne was planning to retire from Fiat Chrysler in 2019, he was meant to stay on at Ferrari for another five years. His succession plan was not as advanced at the Maranello-based company as it was at FCA.

Like Marchionne, Camilleri, 63, is known for growing shareholder value via spinoffs. He was worked for cigarette maker Philip Morris International, a major sponsor of Ferrari’s Formula 1 team, and was on Ferrari's board even before he became CEO.

Bloomberg and Reuters contributed to this report.