Hello, I've subscribed to the Chicago Tribune newspaper for decades. Lake Forest Sports Cars has a full Ferrari inventory advertisment in this Sunday's edition. They haven't had a ad like this in quite some time. Included in todays ad are 599-F430-612's and so on. Is there a reason they have decided to place advertisment for the same cars that have been selling like hot cakes without any advertisment? Again, i'm probably reading way too much into this. It's just some recent posts here on F-chat have implied that the supply-demand equation might be leveling out. Or it could be due to their first Formula 1 viewing party next week. Or not. joe
I think you are starting to see some excess supply and fewer buyers. Check out the inventory at Continental Auto Sports. 1 599, several 430 coupes and spiders, 2 Super Americas, 575's and more than a few 360's. These dealers are carrying some serious iron on a monthly basis. Mid-west is typically more conservative than the rest of the country. People in Illinois. Michigan and Ohio believe the economy is in trouble. They are not going to go out and buy $200-450K toys even if they can afford it. In their mind it makes zero sense to do so. It's going to get worse. People have no faith in the current economy and refuse to buy expensive cars or homes. Even if they wanted to they can get the loans to do it.
The add is only for used cars,more then a year old. Economy ,Midwest location has nothing to do with it,all dealers regardless of location have used Ferrari inventory from trade-ins on new ones. You all read too much out of it..... You are not going to see low miles 430s and 599s below MSRP anytime soon,regardless of what the media scaremongers will try to do ....
Hello, I hope I didnt come across as a media "scaremonger" as i was just making an observation and asking a question. I apologize if my post offended you. Kind regards, Joe
I'm not so sure 'absent' is correct in his observation. The country is going 'Green', petrol and food prices have gone up dramatically, foreclosures on homes are escalating and real estate values are quickly diminishing. The masses are running scared, as they have less and less discretionary income to purchase non-necessities!
There will always be the rich and the super-rich. They are the customers who consistantly buy the new flavor toys as soon as they come out regardless the price. The problem is, as they continue to trade in last years ferrari for this years. Guess what? Nobody is out there buying them. The number of customers who have been buying used ferrararis due to the current economic climate has fallen. These customers who are more effected by everyday price increases for even the most basic neccesaties are not buying resale exotics. Bloated inventories will force prices to fall for both new and used product lines and dealers are going to stop accepting trade ins at current price levels. I think we are going to see a serious correction in the high end market. Look for major price reductions over the next 12-18 months especially on resales. Like everything else, you only get the best price when you can afford to spend the money the least.
No apology needed here,no offense done,just my own personal view of the market situation. Btw,are you with the media?
The issue with that rebuttal is the masses aren't the ones buying Ferraris. With that being said, an article recently stated used Ferrari sales are down 9% this year in the United States. But, I don't see/hear of any new Ferraris sitting on lots waiting to be sold for very long. And there are more new Ferraris than ever being sold this year.
You have a valid point here,I also think the "drop" in Ferrari sales is due to lower allocations for US market.
