Update on 812gts

I am told Ferrari will finish all GTS production by year end 2022 so they are making order pulls regularly so if you get a slot you’ll know yes or no by August if you had your deposit in prior to book close. No guarantees but they have knocked out some orders for F8’s. As that is finishing and Portofino M will also be finishing now the book is closed… only Romas and 296 and soon 296 spider.

 

What's your source? My salesman at the dealership told me last week that they will build the 812 GTS through 2023 and he thinks the factory will have to cancel orders as they did with the F8.

 

Cars built after August summer break will be 2023 model year but they are trying to be done by year end…


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If Ferrari does not build the order book, they will likely face a very big Shareholder lawsuit as they committed publicly to build the order book. If they have made a decision not to build the full order book, this would be a material disclosure they are failing to make to the public. They would have filed an 8-k per the SEC rules related to material changes in previously reported information. I would not think this is a fact until they disclose this change in a public statement. Lots of Ferrari BS always goes around.....

 

I disagree. According to my salesman, they have already canceled many F8 orders and I haven't seen any lawsuits. A few less 812 GTS cars will not affect their bottom line meaningfully and therefore won't require an 8K.

 

I have heard many cars with deposits may not be built (f8/f8s/812gts). Only Roma and 296 available now and soon 296s. My question is what exactly is coming model wise, or is the backlog for the aforementioned cars to keep factory busy with the sp3 and competizione/a until suv starts which will be the bulk of production?

 

I believe you can still order a Portofino M?
SF90/SF90s are still being built; no way the FUV will be bulk of manufacturing (meaning > 4000 units per year), the V12 line cannot support that even if there were no existing V12 builds in-process and I do not recall seeing a single FUV mule with an electric warning triangle, so will there initially be a hybrid version?

 

Porto M order book closed.

 

It’s far from certain and unlikely due to Eu6/7 rules the SUV will be a v12. If you look at Lambo the vast majority of production is SUV now. SUV’s have higher margins and I’m sure there will be a huge marketing push to make people believe they will have sports car performance that can carry 4 or more. Cars are dying off in every brand. My 2 cents.

 

To me, I find the Lamborghini Urus is impossible to compare to Ferrari's production because the Urus is an Audi Q8 with a Porsche twin-turbo engine, VW has the scalability to make as many frames/bodies and engines as needed. Those "economies of scale" result in a very profitable Urus because both the body/chassis and engine are "paid for" by other VW divisions, the Urus simply combines those existing products with minor changes.

Plus the Urus price range is close to 300K, the FUV will be priced much higher and will have a much smaller production than the Urus. Every Ferrari has a high profit margin, will the FUV profit be any higher than the other models? Doubtful.

Euro 7 is no longer happening and may never occur and instead a revised Euro6 is likely if anything at all. It is quite likely the FUV will feature the V12 (non-hybrid) for initial launch. And, possibly a V6/turbo/hybrid option and later full electric.

However, the Urus is 64.5" (164cm), the FUV appears shorter and if under 60" (152cm) it will be quite small and that might impair its desirability since it would essentially be a large car. For comparison, Range Rovers are generally taller than 73" (185cm), if the FUV is a too short/small, well, time will tell.

There is no doubt for 'conventional daily driver type vehicles' cars are currently out of favor and SUVs/Trucks are heavily favored, but I do not see the connection to Ferrari. Their cars continue to sell-out.

 

You are correct I am in finance and a few cars is a pimple on the ass of the elephant… 8k is silly


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It will depend on the materiality. Agree if we are talking 5% of the cars not being built agree. If they get into the 10% plus range worldwide that they are cancelling then that would be getting to a disclosable percentage. Keep in mind Ferrari has told the public what they plan the production numbers for the coming year to be. If Ferrari changes that by a material amount then it would require disclosure.