Not really a lot, because in Las Vegas the weather is so nice and traffic so easy, that you can drive Ferraris every day.
I know someone who abandoned their SF90 upon arrival at dealer as their financial advisor told them it was a mistake to purchase (same person had already taken deliver of 296 GTB and GTS). Dealer blacklisted them (from placing new orders going forward). SF90 was a good flip/resale spec and dealer had no issue selling it quickly. Timing was ideal as it was right when XX was announced so someone who wanted an XX snapped it up to meet requirement of having series model in garage for eligibility.
I’ve been saying this for a while, but it’s not limited to Ferraris. I spoke with a boat dealer recently who told me they’re loaded with inventory they can’t move and their floor plan financing is killing them. Manufacturers are pounding them to take more product but they’re resisting because they can’t sell what they have.
Ferrari is Ferrari. Not like any other brand on planet earth. They do not compare to boat dealers unless you are referring to very very high end bespoke yachts.
Ferrari may be Ferrari and they may be unlike any other brand on earth, but there are 112 296 GTBs for sale (up from 62 in February). So maybe there’s something more at work here.
I wonder if the huge jumps in MSRP from F8 to 296 and 812 to 12C will turn out to have been an over reach? Time will tell.
Not sure I see the issue? Ferrari is producing more cars than they ever have before. Over 13k annually now which is 33% more than they produced 5 years ago. Shouldn’t you expect to see more cars for sale as more cars are being produced/sold? Just look at the Porsche 911. For the model year 2022 only, there are 414 available. Does that mean the sky is falling? Does that mean they are bad cars? No, it means Porsche produces a ton of cars and proportionately there are a lot for sale on the secondary market.
That just means they aren’t priced correctly. Some of those Porsches are way overpriced and have been sitting for 813 days. Price a car correctly and inventory turns. The dealers that are asking 50k+ over msrp for a 296 GTB are not living in reality. Same hold true for the Porsche that are asking huge amounts over msrp. My point is the number of cars listed is not indicative of a problem but more indicative of pricing.
Which I think is the entire point. There are more cars than demand at these price points. Produce more cars without a corresponding increase in demand prices must come down. As for 911s, yes ridiculously priced ones sit. But they are moving at list or slightly above, which is not the case for almost all other brands.
Completely agree. COVID days and pricing is over. The 296s that I’ve seen priced at msrp or just above are moving pretty quick. Like is said, the dealers thinking the car is commanding a large premium over msrp are not being realistic. Just go back to before covid, my Pista struggled to sell 25k below msrp. When a new model was released they went for over msrp, year 2 just at msrp and beyond that under msrp. The 296 is no different and may be a little worse due to increase in volume. Year 1 they were over msrp, year 2 they should be at msrp and year 3 below msrp.
I'm guessing they lose their deposit which is probably better than the depreciation. Lots of 1st time Ferrari buyers speculating is likely the issue. Dealers offered these cars to anyone that wanted one.
Same with the SF90. Early buyers saw the pot of gold at the end of the rainbow. That quickly faded away and reality set in.
Makes sense. Speculation is horrible for the car markets and the manufacturers respond in kind like Ferrari with massive price hikes. Bad for everyone. Get em out.
I’m thinking that’s why some folks were reporting having to pay a second deposit on a new Ferrari . This way it keeps them all in and if they pass , the dealership is covered.
the average cost of a Ferrari has almost always been the average price of a home in the US. That trend continues.
For what it's worth, I backed out of my 296 order and the dealer just called me to see if I wanted to put down an initial deposit (20k) for a 12C. I guess my bridge is doing better than the Francis Scott Key bridge.
So was your car already built, you cancelled and didn’t take delivery? I think that is what is being discussed. Cancelling an order before the car is built won’t burn any bridge and most dealers won’t care as they just move to the next person on the list.
Right, I'm referring to your car being awarded a VIN, built, and then shipped over here and you just flat out say, no, I'm out.
