| Author | Message | ||
| Bill Sawyer (Wsawyer)
Junior Member Username: Wsawyer Post Number: 78 Registered: 2-2002 |
I agree. I wasn't suggesting a wholesale drop but a reasonable decline by late summer. | ||
| Mr. Doody (Doody)
Junior Member Username: Doody Post Number: 145 Registered: 11-2001 |
do keep in mind that we're still talking about insanely low-production vehicles here. they build something like 200 360s per month, of which apparently 50 are bound for NA. even if the gray market guys were importing 25 a month it's not like we'll "suddenly" see much happen. yeah, we might see a slight dip in the next few weeks as panicky sellers cave to aggressive buyers, but as art points out, that'll dry up quickly. the release of these cars will fill some of the pent-up demand, but the waiting lists et. al. clearly are far far larger than the number of embargoed cars being released and imported. it's not like there's some dude in France sitting on 10,000 360 Spiders that he's been holding for US import pending this ruling :-) :-) 360 Spider prices aren't going to plummet this week :-). 550 Barchettas aren't going to suddenly be selling for way under MSRP :-). maybe - maybe - the 360 Modenas will feel it, but i still think it'll be a temporary market adjustment due to the embargo releases - and it'll creep up a bit again in a few months. my two pennies. doody. | ||
| arthur chambers (Art355)
Member Username: Art355 Post Number: 372 Registered: 6-2001 |
I'm told that you can get a warranty for a Euro car, and that there are dealers who will service that car under warranty. Given this ruling, there are many of those Euro cars around, and with the economy, some very good deals can be had on these cars, but I bet by summer the gut will be gone. Art | ||
| Bill Sawyer (Wsawyer)
Junior Member Username: Wsawyer Post Number: 77 Registered: 2-2002 |
I agree, $80K is too low, but they are bound to drop as 360 inventory picks up. You won't see 355's at 348 prices in the near future, but they will be saner than they have been during the 'Euro 360 Embargo'. | ||
| Bill Sawyer (Wsawyer)
Junior Member Username: Wsawyer Post Number: 76 Registered: 2-2002 |
Martin: You? Vocal? Ha!! I'm with you on this one. | ||
| Martin (Miami348ts)
Intermediate Member Username: Miami348ts Post Number: 1841 Registered: 5-2001 |
The 355 has lost a lot of value in the last weeks and months. Spiders are at $110,000 - 120,000. If this will effect the market worse I can buy a 355 Spider for $80,000 soon  ...I guess that will not yet happen though, so relax you 355 Spider owners | ||
| Martin (Miami348ts)
Intermediate Member Username: Miami348ts Post Number: 1840 Registered: 5-2001 |
I have been most vocal on this subject in the past. Dr. Martin, this is the only point that I will probably site with FNA. They have not made the money when they sold you the car, so they should not be forced to use their resources to fix a car they have not made money on. However, yes, waht FNA was trying to do was creating a monopoly. This is prove that they are well aware of the price gouching of their own dealers, although they "officially" do not practive over-sticker. They tried to protect their dealers so they can fleece the US customers. The less there is the more you can ask! The argument of FNA was what really ticked me off. Euro Cars are not safe to drive in the US. In other words they do not hold together at a 55Mph crash but with heightend speed on the AUtobahn in Germany the car gets stiffer and a crash at 150Mph is survivable. Or Ferrari Spa did just not give a damn about the safety of the German customers. Pick which one, that is the translation of the argument why Euros should be banned from being imported into the US. Thank God a judge looked right through that and told them to **** off. I agree suit should be filed against FNA for trying that crap, but nobody will because there is a importers association that unites gray market importers. | ||
| Bill Sawyer (Wsawyer)
Junior Member Username: Wsawyer Post Number: 75 Registered: 2-2002 |
My guess is that 355 prices will fall first. They have been artificially high because of 360 demand. Now that more 360's will be available demand for the 355 will suffer. 360 prices will drop as practical(?!!?) Ferrari buyers turn to the Euro models rather than pay the premium prices being asked for a US version. Ferrari dealers and salespeople will have to wait a little longer to buy new Rolexes and summer homes as a result. By late summer, when the rush to have a new sportscar for the good weather months has subsided and this situation has played itself out, 360 prices in the U.S. will be closer to European prices, although I think we will always pay more for our cars. This assumes that the economy and gas prices remain stable. Gas shortages due to the Arab/Israeli situation, escalation of the war, economic instability or a combination of the above will make matters worse, of course. | ||
| Andrew (Mrrou)
Junior Member Username: Mrrou Post Number: 62 Registered: 3-2002 |
the prices of US models would be lower becausse the importation of foreign models has been approved.. | ||
| Jason Godsil (Godsil)
Junior Member Username: Godsil Post Number: 64 Registered: 9-2001 |
I was speaking about FNA. It looks like they didn't want to share North America with anyone else. | ||
| Hubert Otlik (Hugh)
New member Username: Hugh Post Number: 34 Registered: 1-2002 |
Jason, Isn't that what Ferrari was doing by attempting to restrict the importation of "grey-market" models? Had they percivered, the hightened demand and depressed supply would have only perpetuated the inflationary price gouging on new and used US models. If any one entity was trying to corner the market it was FNA. IMHO. -Hubert | ||
| Jason Godsil (Godsil)
Junior Member Username: Godsil Post Number: 63 Registered: 9-2001 |
I haven't really commented on this topic before, but it just looks to me that someone wants to corner the market. Isn't that a Monopoly? | ||
| Tim N (Timn88)
Member Username: Timn88 Post Number: 726 Registered: 6-2001 |
Will this lower the price of US cars? | ||
| martin J weiner,M.D. (Mw360)
Member Username: Mw360 Post Number: 371 Registered: 5-2001 |
Red, It really isn't too practical to ship the car back to the "original Importer" in Europe each x a warranty issue comes up.Wouldn't it be nice if Ferrari spa had an arrangement with FNA to reimburse them for any warranty work on Euro's? | ||
| Red Lindell (Redhead)
New member Username: Redhead Post Number: 37 Registered: 12-2001 |
""Now I would love to see some deep pocket brokers of euro cars bring a suit against FNA for not honoring warranty issues on Euro cars."" Martin...you still have a warranty on your car. The problem is it is through the orignal importer. FNA is allocated a certain $ amount for warranty every year depending on how many cars they are allocated from SpA, as well as all the other Ferrari auth. importers. You willing bought the car and the warranty from a European importer, so if you have any issues, you need to ship your car back to the orignal importer. It is not a issue with FNA. They are just stuck in the middle. | ||
| Ben Lobenstein 90 TR (Benjet)
Member Username: Benjet Post Number: 535 Registered: 1-2001 |
the Federal Register quoted below can be found online here: OK the links I just posted didn't work, try this: http://www.access.gpo.gov/su_docs/aces/aces140.html and type Ferrari into the search box. For those with a NEED to KNOW! -Ben | ||
| martin J weiner,M.D. (Mw360)
Member Username: Mw360 Post Number: 369 Registered: 5-2001 |
It means all those guys and gals who have purchased 2001 euro 360's and 550's,shipped them to US,had them "federalized" and have been waiting for about 6 mo to get dot approval will now get their cars on the road. It also is a big defeat for FNA who made claims that the euro cars were not being brought up to US standards etc;etc. It also imho brings euro cars closer in value to US ferraris. Now I would love to see some deep pocket brokers of euro cars bring a suit against FNA for not honoring warranty issues on Euro cars. Of course I am biased as an owner of a 360 euro. | ||
| Tim N (Timn88)
Member Username: Timn88 Post Number: 705 Registered: 6-2001 |
What exactly does this mean, im not up to date on FNA's fight against euro cars. | ||
| Luigi Tarisio (Tarisio)
New member Username: Tarisio Post Number: 29 Registered: 1-2002 |
Published in the Federal Register today or yesterday. Not at the DMS site yet. | ||
| Martin (Miami348ts)
Intermediate Member Username: Miami348ts Post Number: 1822 Registered: 5-2001 |
YES ! GOOD FOR THEM. LET FNA HEAR THE MESSAGE! although I think it took way too long for DOT to make a ruling here! | ||
| Ben Lobenstein 90 TR (Benjet)
Member Username: Benjet Post Number: 534 Registered: 1-2001 |
WOW, now that is some news! I would have thought FNA would have the bigger lawyer, not that I'm taking sides... Where did the news come from I couldn't find the ruling in the DOT search... -Ben | ||
| Luigi Tarisio (Tarisio)
New member Username: Tarisio Post Number: 28 Registered: 1-2002 |
The JK petition has been approved. |