296 Values and Used Market

Hmmmm…that’s a shame. Just sold my ‘24 GTS ($524K sticker) for MSRP.

 

I know this is a bit of a generalization but IMO mostly because they shouldn't have bought one to begin with. The myriad of "value" threads on FChat leeds me to believe that a lot of people overcommit on purchasing these cars and for one reason or another they need to exit them, pretty sad to see because they seem to be buying into a headache rather than something joyful.

 

To sell 15,000 cars a year Ferrari actually needs to attract people who are not really interested...
When - for whatever reason - cars held value to the point it was possible to own one almost for free, there was no issue (because in this environment many people would casually buy and the market would go on); when there are signs of it not being the case anymore, some people want to go out as soon as possible to limit damage - which just brings further pressure on the market.
It does not yet translate in the sales of new cars because people still believe there is (or will be) a short period after model introduction when a sale with a profit will be possible; so people do whatever they think will guarantee them an early delivery of a new model. This will not work in the end, because only few people can actually get early deliveries - when customers will understand, probably a lot will stop buying. When it will happen is anyone's guess.

 

2026 sold out - guessing 2027 2028 market?
Someone - few posts up just said sold at MSRP - reality.
Stock price is Ferrari's future vs today's car market for any two owners / cars or sales will vary.
Some sell back to dealer to keep place in line - some sell at fire sales BaT.
These overall one size fits all - economist are the worst at guessing the market - throughout history they get it wrong more than anyone.
Love on hate - Ferraris are about passion - it's not something that comes n goes. You either have it can afford or you don't. It's a lifestyle, like a vacation.
Grabbing keys to a Ferrari is a vacation every day - that's the value. Value of the car is two days - day bought day sold. 2 out of 500 - estimating. Pretty silly to focus on those percentages.

 

this new paradigm does put into perill the dealers ability to sell less desirable cars in hopes of getting a more desirable car thus making up for losses $$$ on the others. If folks are OK waiting and buying used they can skip the dealer hazing...even if they end up paying over list (VS type cars) they will save money in the long run. If Ferrari can't maintain at least the appearance of high residules they are in for a hard landing. Younger generations aren't as brand loyal in general...and they aren't as brand loyal to Ferrari. Most younger car folks have the same attachment to Ferrari as they do the others. Just wait for the Ferrari EV SUV to hit the market...when those become ubiquitous and have significant depreciation how will Ferrari maintain their mistique with their new target luxury car buyer....the brand to watch is Aston.

 

https://www.cars.com/vehicledetail/63749447-42a8-4cb2-a91d-c17faf978b74/

Loving this one w/ask 100k under MSRP.

 

On the other hand, I understand the seller's reputation might be a factor in the low price.

 

Well said. I felt this way about Porsche when they did the SUV. Watered down the brand. Their sales did well but now you see them everywhere.

Also, why is Aston the one to watch?

 

Assuming prices are nearly identical, would you rather have a ‘22 with less miles (e.g 700 miles) or a ‘23 with more miles (e.g 3000)?

 

22

 

Ferrari buyer is under 40 - on avg
Rolls Royce is 42 on avg.
80% are the boss - what's that tell you about young people and brands importance.
Younger generations is why they signed a new F1 driver that added 9B in value.
Aston - yeah enjoy watching it, bought a DBX lost 100k in 14 months and had Valhalla deposit for years - McLaren just got bought - did you see Astons financials - ever? Love Aston but it's with caution.
I would love to hear peoples experiences of how they lost on Ferrari's as the 812Comp is 1M over - the last special edition. Speculating is fun but history tends to repeat itself. Puro market today vs Aston SUV - wanna answer that one.

 

Reliable source, because it's inaccurate !

 

For accuracy , listen to Ferrari
https://www.cnbc.com/amp/2023/08/22/ferrari-ceo-benedetto-new-buyers-under-40.html

 

Have to laugh - you asking for a reliable source.
Google - this is older - seen others more recent to reflect my post

https://www.cnbc.com/2023/08/22/ferrari-ceo-benedetto-new-buyers-under-40.html

 

I will make it easy , it is 30 % under 40 , here is the quote from the cnbc interview from the link I provided above before the original poster !

“Vigna said that despite limited supply, the company continues to expand its reach among younger, new clients. Its client base has expanded for 10 quarters in a row, and 30% of its new clients are younger than 40 years old, he said.

"Our new clients are 10% younger than all the clients we have in the world," he said. "So the prancing horse is kicking strong."

Vigna added that buying a Ferrari should never be easy or quick, since it's the ultimate aspirational car.

"Getting a Ferrari is an experience that starts from the time you first see a Ferrari," he said. "It's not something you can get very easily."

 

I don't think it's easy to determine -
Customer orders at age 36 - takes 2 years to get a car and become a customer - which until it is sold - is then 38 39.
Regardless - I am not 36 .,, but my first Ferrari was at age 35 - not new but it registered me as a Ferrari customer.
It's a bit confusing - from the discussion I have had - regardless it's appealing to all ages and nothing on that front has changed.

 

I didn't know that 30% was the average, at school I was taught that it was from 50%, not to you ?

 

a percentage of that has to be young buyers who are funded by their parents right? so a portion of that has got to be just the older rich guys buying their brats the new ferrari SUV

 

How remarkable given the hundreds of 296s available below sticker, congrats on the sale.

 

Be nice Day Day - you need to define customer first - we can go from there.
You need to show source - .,,, gogo

 

As is often the case, spider’s do better than coupes and all it takes is the right buyer looking for a particular spec.

 

So rich people buying a Ferrari - upsets you.
What a great community we have here at F chat.
Day dislikes anything and everything past BC and you hate the owners.

 

You missed my point. I did not say I was upset or hate the owners. My point was that I was speculating that some of the "young" buyers may be funded by "old" buyers. Not a very meaningful point I'll grant you that but I think the numbers need to be taken in perspective.

I do agree with you that we have a great community at F chat. One of the things I value is that people speak their mind and have strong opinions. The diversity of thought really helps you see things from different angles.

 

Then why did you call kids of parents "brats" for receiving a Ferrari SUV.
Young buyers also buy for older owners - more often than you would think. Did you mention that in "age".
I just think there is a lot of mean spirited posts vs supportive. That's all.

 

I was trying to be descriptive and frankly it's probably an accurate stereotype. I'll take it back though. I sincerely was not trying to be mean spirited. I hope one or all my kids buy me a Ferrari in my golden years.