296 VS

Correct, I also heard if you sold you had to rebuy. Not sure how many that applied to, but if you had one on order I believe that still covered it. Of course you have to take delivery, etc.

 

Initially Pista was sold out and many customers were left disappointed. They the bean counters increased production…


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Is this mule 296 VS or something else?


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Has anyone of you already been asked about your interest in buying a 296VS by your dealer? I read that Ferrari dealers have to inform Ferrari corporate about the people interested in a 296VS.

 

The market conditions may change the balance of power between seller and buyer in the (near ?) future. Of course the dealers will pretend to be in the best position as far as possible (and they will adjust to each customer's market awareness).
For the time being, they may use all possible ways to avoid more 296 going into an already saturated second hand market.

 

our dealer (whom I trust) told me that he had a client with a sf90 who ordered a XX. Order accepted, car being built....all good. He then sells his SF90 and Ferrari calls the dealer and told him that they won't sell the XX to that buyer. He wanted to buy the XX and attempted to get his XX order back if he bought a used SF90 and held that car until the XX arrived. No dice. To be clear, preference is given to the original owners of the Sf90 not those who bought second hand. The new paradigm is that you accept the losses ($$$) of your normal production car (SF90, 296) to gain the more desirable car (XX). Maybe will make up for the losses ($$$). Of course you won't sell your XX because you want the next super special car they are producing.

Ferrari is beyond masterful at controlling the market, creating unreal products that somehow are always better vs the competition. AND the can charge a premium that under normal market conditions wont work. Look at the new baby Lambo, 1000 hp. Its going to be $75-100k LESS than the 296. Ferrari will make you wait 2 years and Lambo can get you a car in less than a year (I am hearing 6 months) As a business owner, investor I am in awe of Ferraris model.

 

There will be exceptions, there always are, but, I think the above is spot on.


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Totally agreed with the above. Exactly the decision that needs to be made.

 

Yes it is 100k less and you may get it quicker , that is because of the broad market reaction to the car

 

This post is just masterful. Probably one of the best I’ve ever read on here. Extremely well said all around!

 

a nice shot from iliasabawi

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looks like active aero air dam louvres

 

the other pics:

https://www.instagram.com/p/C_I-u3wK10n/?g=5&img_index=1

just for reference..

 

I can confirm this.
My dealer has openly said "Ferrari is crystal clear with SF90XX allocation. Sell your regular SF90 and you're off the list".
I'm sure they'll employ a similar tactic with the 296VS....
OR if Maranello decides to build a limited number car without any limited numbers, it's again an almost "free for all" buffet with the VS allocation.
Something tells me we'll be deep into 2025 before anything will be presented.
The 296 continues to sell like hot cakes and it will be at least 1 year before the new Lambo could start eating away sales.

 

Desirable....A car with a disposable battery that will no longer exist in 20 years....seriously...
they will no longer even manufacture the parts. It's a product close to an iPhone that will quickly become obsolete...
the day when there is one who hires a restoration like we do on a Dino or a Speciale, for example, I offer him a case of champagne !
These cars are just consumables

 

Do they mean you need to keep the base model until you get delivery, get allocated the VIN or just get confirmed as getting one once announced?

 

LOL , More broad statements from a profile with no detail.

 

Basically till you have it in your driveway

 

If that's the case, it will strengthen the secondary market, and more people will sell directly to the dealer, usually at a lower price, to exit quickly and invest that money in the VS. (opposed to displaying the car at the dealership and waiting for a customer to buy it)

Genius move by Ferrari.

 

Ferrari own the car you just pay for the right to drive it basically lol

 

As one with an XX on order and a 296 GTS in the garage, I’m not overly interested in holding the 296 for a VS. It remains to be seen whether this really has had the desired effect. The need to do this surely signals an acknowledgement that SF90 values have been soft. The reason? Likely because of the hybrid platform. Can the same also be said for the 296? If so, see the pattern?

Personally, the SF90 might be the best overall Ferrari I’ve owned. It’s better (save for the exhaust note) than the 296. However, I think it’s hard for many potential buyers to warm up to the hybrid technology and uncertainty about costs/risks related to long term ownership. Asking owners to buy everything you sell and then hold each to obtain a VS, will become increasingly unpopular with loyalists…if the values of VS models (particularly hybrids) don’t appreciate as expected.

At nearly $1.2M, my XX is 50% more expensive than my current spider. I don’t have a problem with that, so long as being a very limited car, it appreciates considerably in value. It’s just that with these hybrid VS cars, it’s unclear where the secondary market goes.

 

that is the big question. Will Ferrari over produce the VS/ XX branded cars and over saturate the market? If they do, owners will go from taking losses on the entry car and then another hit on the VS/XX. Would Ferrari do this? Would you keep buying Ferraris if you were no longer confident that there would be a possible financial upside?

 

You seem to be suggesting that folk only buy these cars to make money - is it not possible that some are owned and driven by enthusiasts of the brand who understand that cars depreciate

 

The problem is that Ferrari has built its new business model to sell overpriced cars with the promise of financial upside; the adressable market of car enthusiasts is smaller and does not accept the same overpricing. Now this business model may eventually reach a dead end.

 

Of course. I think most people buy these cars because they love the cars, not as an investment. There are exceptions, but I think that's the general rule.

That doesn't mean that nearly all of those same car enthusiasts won't look at the decision to purchase differently if they go from (a) expecting to roughly break even to (b) expecting to lose 20-30% on every purchase they make, even with VS cars in the mix. Some people have enough money that they won't care. But I'd guess that there are enough people who would reconsider that it would meaningfully change the market dynamics.

It's a marginal propensity point, not an absolute point.