100%. Just sold my f8 a week and a half ago and have put on 500 miles driving the 296 around. The F8 is a fantastic car but the 296 feels (driving wise) so much smaller and more nimble. I did upgrade my f8 exhaust but the 296 sounds better still. It is such a more modern experience and I have beyond happy w the swap
On all this market stuff I just counted 186 296 (all variants) for sale as used through dealers today . With 73 dealers in the US that is not too bad however some markets are flooded with dealerships. 14 in Florida but 9 in California and 2 in Denver with its small population. I think it may be time to rationalise the dealerships . Some of the cars were no doubt ordered by the dealers as a spec to sell , some of them have got it completely wrong . I mean Blue TDF with a rosso interior , what were they thinking ? If you drill through these cars there are some really off the planet colour combinations that some salespeople have missed the market completely in spec.
Can only blame spec for so long. Even some great ones are sitting, market is slow and they are just overpriced. Ferrari has gone too far on price increases, so any secondary market premium is gone. Welcome to more normal depreciation for a used car. As always, things will adjust. Sadly we as consumers will take the hit more than the factory will. Remains to be seen if this is the new normal or a temporary adjustment, the last 4 years has been a crazy time if you think about what COVID and near zero interest rates did. We swung too far into “everything goes up in value” and now it’s the opposite. Markets tend to correct themselves, but if Ferrari continues to overprice/overproduce it’s difficult to see how this drastically improves.
Same thing is starting to happen to the Porsche 911. This was once the measuring stick for ADM, no depreciation and no inventory. No surprise but supply has caught up to demand as the market is slow and they way overpriced the car. A plain Carrera is now 130-150k with very basic specs. A dealer by me has 9 sitting in inventory and most dealers have 1-2 sitting on the lot and plenty of unspoken for specs due in by the end of the year. (I am NOT referring to the GT3 as that is still very strong, but I suspect even that market may start to crack in the next 12 months). The market is returning to normal for all brands. There are discounts to be had on almost every brand and when you drive the car off the lot, it depreciates significantly. I’m not sure we will see it with Ferrari, but the watch industry went thru this years ago (well before covid). AP was one brand that kept on increasing the price of their watches. It got to the point where sales slowed, the secondary market was hurting and they had to decrease their pricing structure. Again, I don't see Ferrari doing that but maybe they will stop the yearly price increases and let the market correct itself that way?
Ferrari dont control the market buyers do. Something Ferrari need to get their head around. Buyers are simply scarce and Ferrari has a choice IMO, sell less cars and make more per car or bring prices in line with market expectations (whatever those are). No dealer in any market can keep taking stock which doesnt sell as that makes no business sense.
Keep in mind that many of these cars are on consignment so the dealers have less risk and cost. I know this isn't always the case though, lots of new cars sitting now. Friend of mine picked up a new sf90 amd they way over allowed on his trade to get it done.
Clever marketing allows to push up the prices to some extent, convincing buyers they have to / need to spend more money. Ferrari has been successful by using their knowledge of buyer's psychology; it has allowed them to overprice their cars but now they seem to have reached some limit (maybe also because the market background is changing).
I'd spend the money if I was treated better but I'm not so F 'em. I'll just pick off whatever I want from any dealer or used. I think this is also contributing to the decreased interest.
Funny you say that. I just took someone for a ride in my 296 as they had never been in any supercar before. He was asking if Ferrari invited me to any events or to preview new models. I laughed and told him I’ve bought 6 Ferrari and I don’t even register on their radar and I’m a bottom feeder in Ferrari world. He laughed and said he guesses he would be a worm in that case.
Especially in my geographic area. I compete with people that have 15+ Ferraris in their current collection. Some of them buy the exact same spec every model year and just stock pile them.
I'm seeing flippers be rewarded however they are feeling some pain now and the dealer is coming back to me but too fuking late.
Totally agree - get super treatment from Lambo and McLaren - and I dont need to "brown nose" anyone for a car!!!. Ferrari are not producing anything I call exciting these days. Zero interest in their current line-up after 10+ FCars
car nerds...like all of us or we wouldn't be wasting time on this site ....appear not to have been Ferraris focus for the last few years. Ferrari decided they were a luxury brand that sells cars. Time will tell if that was a smart move. How will you know? Watch the value of Ferrari share value (RACE). IMO, Ferrari is hyper aware of what is happening in the market and will 10000x turn things around. They do read this forum and do pay attention. Watch, the best of Ferrari is about to happen.....the best days of Ferrari are ahead of us.
Okay, so I looked in a dictionary .... "Ferrari privilege": the expectation that one can own a very expensive sports car and lose proportionally less in depreciation than those ordinary people owning ordinary cars (it's a joke!)
I’ve heard that some employees read it, but does management actually care? I would be surprised. It seems like they do what they want, not what the members here say we want.
Totally agree with this assessment. There is no evidence to support Ferrari is interested in listening to what customers or members here want, and if they were, their current line up of cars wouldn’t sound so ordinary when compared against their competitors who clearly push boundaries to ensure their customers are as satisfied as possible with the sound given the tightening regulations.
Faster than ever, I don't know. In ten years (1990 to 2000) a testarossa had its price divided by three (during a time when inflation was higher than now, so the actual loss of value was even higher). Recently there's been a bubble, that was only going to end up some day.
I think people are conflating two different issues. The quality and capability of the 296 versus the resale value of the 296. The two do not necessarily have a cause and effect, much less a correlative one. Personally, I think the 296 is a fantastic car. But that doesn't stop me from admitting and wondering why the resale value of the car is so steep.
That video was very well done, but depressing! As he mentioned about his friends experiences, I too ate $75k depreciation in 6 months on a new Cali T back in 2017 my perspective changed 180 degrees. Until you feel the real pocketbook pain you don't take it completely serious.
