Benedetto Vigna: Thank you, Susy. I’ll take the third 1 and then the first and the second 1 will be with Antonio. So the third one, the Daytona, we are starting as planned. And you can, yes, assume that it’s more or less evenly distributed. The first and the second, Antonio will comment more.
Antonio Piccon: Yes. 2023 guidance compared to 2026. I think there are 2 elements that should be taken into consideration. The first 1 is that we already mentioned at the Capital Market Day that the plan is front loaded, which means basically, you cannot assume a linear development, but it’s rather a jump at the beginning and then a smoother growth. Secondly, some of the assumptions that were outlined at the Capital Market Day, obviously need to be updated once we get closer and closer. And 1 of the first is obviously the impact of pricing compared to where we were at the Capital Market Day, we had an adjustment in Q3 that we, I think, were public about. Another 1 is the impact of foreign exchange rates. I think we said at the Capital Market Day, we had assumed 1.15 as the average U.S. dollar to euro exchange rate.
And this 1 is based on 1.10. So this set of assumptions, of course, will be revised from time to time depending on how and where we go. The second question is on pricing strategy. I think on this we have been quite careful in defining it, depending on the model and its distribution over time. And obviously, we are — we take care about the demand and the order book that we have for the various models. So the price increases that have been applied in Q3, have been applying differently to selected markets and models.
Nicoletta Russo: If I may, to the next questions, I kindly ask to state clearly your questions since we are having some audio problems.
Operator: . And your next question comes from the line of Giulio Pescatore from BNP Exane.
Giulio Pescatore: The first 1 is a bit broad in general. I mean we rally we don’t often think about the macro issues, because you create your own demand in a way. But if you think about the creation of — and concentration of wealth in the last few years, that clearly has been a driver of demand for you. I think you’re uniquely placed to have a view on this topic. So I was wondering if you could share your thoughts on what we should expect in terms of concentration as well in demand for the next year? And what are you assuming in your target? The second one, I would like to go back on pricing. You mentioned that the ’26 targets have some assumption on pricing and you have taken pricing to offset cost, but am I right in assuming that even if costs have to go down, I mean, you’re not going to be lowering your prices, right?
So pricing should be sticky for you. Just a comment on that, please. And then last one for Antonio, please, on the R&D expenses. What happened in Q4 because the number was very, very low. And how should we think about this cost for 2023, please? I hope I was clear.
