296 Values and Used Market

My GTB is just finishing production, and it is neither a high MSRP, trade car, or a flip. But I do agree that there is a decent amount of games played out there with these cars, but you have to realize why....the prohibition of the factory on ADM's. If this was Porsche and there was a 100k+ ADM on the car, you wouldn't see it going like this. Same BS happens with in the Rolex world where demand outstrips supply on certain pieces, and the dealers sell for MSRP. Easily half of certain references go right out as flips immediately.

 

At least here in the US, many of the events are put on at the dealer level and they are required to do so per their dealer agreement. For example, my local dealer (like most in the US) had more than enough 296 orders early on, and the books were closed anyways. Did that stop them from doing a lavish (and expensive) 296 driving event afterwards? No, and they got to pay for it as well. This defies all normal business sense, why promote a product that they couldn't sell any extra units of anyways? Well - they have no choice, it's part of the contract. Promotion and events, even if they don't NEED to do that to move any more cars. The US market for new Ferraris is typically allocation limited, not order limited. At least for now! Feel free to add in your own guess of the future.

 

it's interesting that Ferrari keeps over allocating to the UK market...296 is really struggling to find a clearing price...lot of stock and no demand...there are cars that are quite significantly below retail

 

The demand (at the moment) in the U.S. is through the roof.

With all the models on the same line I wouldn't be surprised if production was more limited with the 296 than say the 488 or even F8.

 

You guys realize this is a regular production car….
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Just another Ferrari….
Yawn

 

What do you think the clearing price is? £200k?

 

good to know

 

Buyers jockeying for VS spots or punching their loyal customer cards for SP models?

 

Yep

 

Obviously a worthless car i am
Buying a New Trans Am instead

 

296 sucks
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There is already a 10% depreciation on almost new mint condition 296's in Korea.
Way over allocated and no demand at all.

 

The 296 GTS might have something to do with the relatively soft pricing.

 

North or South?

 

Well also the line of 348>355>360>430>458>488>F8

has now essentially been split into 2 tiers……. SF90 at the top end and 296 at the low end

 

seems odd when that isn’t the case anywhere else (outside of GB which is a very unusual specific market). Are F8 coupes and Spiders still a bit over sticker there?

 

South. I bet that no one else except for Kim Jong Un would have a Ferrari in North lol

Nope F8's are also getting hit hard with deprecation. South Korea already had plenty of allocations for F8, 296, sf90 (Hundreds of each. Very high regarding the size of the country.) but a majority of allocations for Singapore were all transferred over here recently because of their super high price and low sales, making our market flooded.

However, limited run cars like the 812 GTS or Pista are still above sticker.

 

Eventually my dealer also told me orders are closed for them - they now have "used" 296 gtb from customers receiving their spiders, and can only rely on customers cancellations to have new cars available (such cancellations are likely since planned final deliveries are in 2025, but how many there will be is anyone's guess).
So the only road car they can firmly sell for the time being is the Roma spider, which I think is not going to be very popular in France due to the added 60k euros "pollution" tax.

 

My US sales associate told me the Roma Spider is the only one available for order for almost a year.

 

I was called Saturday and told that my deposit for a 296 is being returned and I am being put back on a “wait list”….supposedly they were entering orders and system would not accept once they got to mine…..not sure what is true or not….


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Wow that sucks. So you never got a chance to sign off on the build?

 

We had everything spec’d and the build the way I was probably going to go, but never an official “yes/done”. I actually thought that was what they were calling me for. You can imagine how happy I am with dealer/Ferrari after everyone and their brother at the dealership has kept the same line for months of “if we took your deposit, you have a spot and car 100%”.

And at the end, was told “we think we may be able to still get you a car”. Guess who doesn’t believe them this time? This guy.


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Yea, I would be pissed

But yea I've heard that dealers really don't know exactly how many allocations they will get... so they take as many deposits as they can then try to fill them all... and they pick and choose which of their customers get the cars I think regardless of rushing to be 'first' to put down the deposit.

I have heard the factory in general has been a bit slow getting the 296 production rolling... 3-6 months behind schedule... but who knows, could also just be others getting bumped ahead of me.

 

I figured that I was trumped by someone “more important” and lost out.


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