$30k of "Other Options"

Lately I've been seeing window stickers of new Ferraris showing a healthy level of options. Just about all had "Other Options", some of which were over $20k. This example shows $30k.



What's the average $$ amount of total options added to each new Ferrari these days?

 

Depends on the model. My dealer said the average 458 spider he's sold had an MSRP of $350K.

Base price is about $275K

Someone had an FF and the window sticker had like 90 grand in "other options" -- plus about 30K in just the normal options.

Special paints are very expensive.

 

Am I reading that right?….a $3,533.00 Carbon Fiber cup holder?…someone PLEASE tell me that is a joke.

 

Ferrari..the only company in the world that can have people lining up to be ripped off and treated like crap, and willing to pay for the "privlage".

 

There was a whole thread on this a couple months back in the subscribed section.

 

No joke. This is one of the things that really bugs me. Ferrari option pricing is not just ridiculously high --- they are insulting.

 

they are there to make a profit, and they price their options at the price they think the market will bear

however I'm more shocked by the fact that americans want cupholders in their Ferrari, rather than by the price Ferrari charges for it

 

Recently in the press: "...even with deliberately reduced cars sold - in FY 2013 Ferrari set new records in sales and profit".
For each his own conclusion

 

When the 458 Spider came out there was one at the Goodwood Festival. The list on the screen showed 70k Pounds of options!!

 

According to Ferrari themselves, the average Scaglietti option take rate is $40K. Not 75K as noted above. This was info from TOFM article.
As noted earlier, cup holder issue in F12 has been discussed ad nauseous. Briefly, it is more descriptive of area involved. It is the rear section of the console behind the "bridge" as it is referred to. While it may not be much more than the cup holder, it is not just a liner/coozie-like piece.
Not justifying, just clarifying, I have carbon front winglets, B-pillar, and carbon racing package on my spider. Could have bought a second GTi for the cost. So, I speak from experience. I am sure that I could have a better daily driver if I had left off the carbon, but I loved the look. Just goes to show you a sucker is born everyday!
Best

 

Ding, ding, we have a winner.........

 

I'd use a cup holder on my 500 to 800 mile days. As it is I keep a capped bottle of water in the car at all times. I get thirsty after an hour or two behind the wheel.

 

Dealers are incentivised to hit minimum option spend levels per car. In the UK the dealer has a target of £34k in options per car. Options are significantly more profitable than increased vehicle volume.

F accounts 2013:
http://www.fiatspa.com/en-US/investor_relations/financial_reports/FiatDocuments/Bilanci/2013/AnnualReport2013_ENG.pdf

Highlights:

Ferrari presents the new limited edition LaFerrari, for which orders received are more than two times the limited production run of 499 units.

Ferrari revenue up 5%

Ferrari profit up 9% to €364 million

Consistent with the 2013 announcement that production would be maintained below the prior year’s level to preserve brand exclusivity, Ferrari managed shipments to the network down to 6,922 street cars (-5% vs. 2012), including the first 20 units of the special edition LaFerrari.

Revenues for 2013 were up 5% over the prior year to €2,335 million.

Trading profit and EBIT totaled €364 million, an increase of €29 million over €335 million for 2012. Trading margin improved to 15.6% from 15.1%, reflecting a better sales mix and the contribution from licensing and the personalization program.

Average Profit per car is €52,585.

Ferrari financial services had revenue of €47m and profit of 13m. At the commercial level, penetration in Europe was 43% (41% in 2012) and in North America 41% (40% in 2012). For 2013, total new finance agreements were up 3% in volume terms to 3,003 and 19% in value terms to €556 million. At 31 December, the total value of the portfolio was €768 million (Italy 6%, Rest of Europe 38%, USA 55% and Japan 1%).

The U.S. remained the number one market and Ferrari increased shipment levels moderately to avoid customers experiencing excessive waiting times. In Europe, shipments in the U.K. were higher following the introduction of the right-hand drive F12 Berlinetta, but down in Germany reflecting planned reductions. In Italy, government austerity measures continued to penalize demand with sales in 2013 accounting for less than 3% of the global total.

Performance was very positive in the Middle East and Japan, while shipments in Greater China were reduced as part of Ferrari’s strategy to preserve brand exclusivity in one of its traditional key markets, particularly in Hong Kong (where Ferrari celebrated its 30th anniversary in October), while in the People’s Republic of China, where the brand reduced shipments consistent with the decision to maintain lower stock levels, sales to end customers were substantially comparable with the prior year.

In November, it was announced that all brand-related activities (licensing, retail, franchising and e-commerce) would be transferred to a wholly-owned subsidiary of Ferrari effective 1 January 2014, enabling an increased and more direct management focus. Retail volumes continued to grow through the more than 50 Ferrari Stores worldwide and the e-commerce channel. In the licensing area, the number of agreements was reduced, while profitability was increased. Major licensing arrangements include partnerships with Electronic Arts and Codemasters. On the sponsorship front, in 2013 Weichai Power, a leader in the automotive and components sector, and UPS, the major U.S.-based logistics supplier, both linked their names with Team Ferrari. The Oakley brand will also appear on the drivers’ helmets for the 2014 F1 season.

For 12-cylinders models, sales were up 29% for the year to 1,931 vehicles, representing 27% of total sales. The increase was driven by the F12 Berlinetta, which completed its first full year in production, and the continued success of the FF. The brand also began shipping the new super car, the limited edition LaFerrari, which was premiered at the Geneva Motor Show in March.

North America (U.S. and Canada) posted another record year, with sales up 9% over the prior year to 2,230 vehicles. The region remained Ferrari’s largest market, accounting for 31% of worldwide sales.

In Europe, sales to end customers were down 13% to a total of 2,722 vehicles. In southern and western Europe (Italy, France, the Iberian Peninsula and Benelux), where economic conditions remained challenging, sales were down 23% from the 2012 level to 670 vehicles. For Central Europe, sales were down 11% in both Germany (672 vehicles) and Switzerland (329) as a result of the brand’s strategic decision. In the U.K., sales were up 1% over the prior year to 673 vehicles placing it ahead of Germany as the brand’s number one European market for the year. The Middle East and Africa continued to be among the strongest performers, with combined sales up 12% over the prior year to a record 605 vehicles. In the Asia-Pacific region, sales contracted 3% overall to 1,437 units. Greater China remained the second largest market globally, with sales in China stable at 458 vehicles (454 for 2012), but Hong Kong and Taiwan decreasing by 9% to 687 vehicles sold. The recovery continued in Japan, where sales were up 3% for the year to 351 units. For the remainder of Asia (South Korea and South East Asia), sales increased 6% to 289 vehicles. In Australasia, 110 vehicles were sold (109 in 2012). In 2013, Ferrari shipped 6,922 street cars (-5% year-over-year), including the first 20 units of the special edition LaFerrari. Shipments of 8-cylinder models were down 12% over the prior year, but there was a 19% increase for 12-cylinder models driven primarily by the F12 Berlinetta, which was released just a year ago.

Luca Cordero di Montezemolo holds positions as: Chairman of Charme Management S.r.l., Vice Chairman of UniCredit S.p.A.,Director of Poltrona Frau S.p.A., N.T.V. S.p.A., Tod’s S.p.A., Kering S.A. (previously Pinault Printemps Redoute S.A.), Montezemolo & Partners SGR and Delta Topco Ltd.

Luca is the highest paid officer at €5,534m and holds 127,172 shares = €981,767 at today's price.

 

Thanks for all that info.

Miminum option target of roughly $50k definitely explains why I have been seeing those stickers.

I wonder what happens if a customer only chooses $10k in options? Does the dealer try "harder" to convince them to personalize more, not approve/priortize the order, or does the next car's target become higher? I guess the incentive would be allocations for the following year? That would be a lot of incentive.

Times have definitely changed. I don't remember having a minimum target in the past. At least my dealer never said anything.

 

It's done on an average over the reference volume period.

Certainly a dealer will seek to upsell options to their average option target. Some cars will be lower, some higher. Depending on the dealer's position in any reference period, they may have the option target in the bag, but still to hit the volume, so they won't be too fussed about options. If they are close to the line on average options, then magically allocations may be reordered or availability suddenly disappear unless the options are increased - that happened to a uk 458 buyer just this month on this forum.

 

A friend ordered his car from the dealer as essentially a no option car. Guess what showed up? A car with the wrong color (it was almost what he ordered) a few options, but thankfully not all. Guess what the dealer told him after a one-year wait? You don't have to take the car. Guess what he did? Yep, he gripped his knees and took the car. This is the story of buying a new Ferrari.

 

What color was it supposed to be and what did it come in?

 

Ugh this makes me want to never buy a new Ferrari. I guess new Lambos off the lot or used Ferrari's it is.

 

Ferrari took a lesson about option profits from Porsche and took it to a higher level. No one puts a gun to customers' heads.

Dave

 

IN effect,that's exactly what they do. One big example .... Factory stripes for a Scud or 599GTO $10/12K... Wonder if its an option for the 458 special and what is Ferrari asking for that? I"m sure you can get an aftermarket stripe from AutoZone for $800. Seriously doubt you would put a painted aftermarket stripe on a $250,000 + Ferrari.

 

It sounds to me like if someone wants to be the original owner of a Ferrari, they have to spec $50k worth of options. Or hope some other buyer specs one with a lot more.

I don't think Porsche requires their new car buyers to spec a minimum amount of options.

Ferrari took it to a much higher level. Stratospheric, maybe?

 

Interesting that after nearly 4 decades at the company he holds less than 20% of one year's income in stock.

 

Better come w a happy ending for that

 

Porsche's are not exactly loaded at the base price. I think options comprise 15-20% of new Porsche stickers, not much different from Ferraris.

Dave

 

What are you looking for my friend?