Covid 19 price drops. | FerrariChat

Covid 19 price drops.

Discussion in 'Ferrari Discussion (not model specific)' started by Joff Clarke, Apr 11, 2020.

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  1. Joff Clarke

    Joff Clarke Karting

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    With this Covid 19 Virus hitting us so hard I'm seeing price drops like crazy. Is anyone else seeing these crazy price drops??? Its scary
     
    Joff Clarke, Apr 11, 2020
    #1
  2. AshAP

    AshAP Karting

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    Haven’t seen any dealers dropping yet on FF/GTC4 Lusso but I’ve noticed quite a big drop on one private seller FF but I’m not keen on the interior.


    Sent from my iPhone using Tapatalk
     
    AshAP, Apr 11, 2020
    #2
    Joff Clarke likes this.
  3. Joff Clarke

    Joff Clarke Karting

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    I sold my 458 last month for $170 and I'm now seeing similar cars selling for 15-20k less. Yikes If this keeps up I may buy another one, or maybe a 488
    My buddy just bought a Lamborghini 580-2 for $160. That was $20,000 off the asking price.
     
    Joff Clarke, Apr 11, 2020
    #3
  4. khal360

    khal360 Formula Junior

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    On a slightly different note this is an article in Forbes about Ferrari’s stock price and how demand is not slipping and orders are not being cancelled. Not quite sure what to make of it.

    https://apple.news/A9nzw95IRSlSBIhAtnWD0xA

    Thoughts?
     
    khal360, Apr 11, 2020
    #4
  5. LVP488

    LVP488 F1 Veteran

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    At least there will be no "supply chain issues" in April since Maranello and Modena facilities are shut down until May 3rd...
     
    LVP488, Apr 11, 2020
    #5
  6. PA Wolfpacker

    PA Wolfpacker Formula Junior

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    I don’t think Ferrari has been impacted yet. The secondary market is getting hammered with resale prices dropping fast. Ferrari may be impacted when the guy that upgraded from his 488 to a F8 finds out how little his car is worth. At that point Ferrari may have to adjust pricing to continue selling the cars from their increased production.
     
    PA Wolfpacker, Apr 11, 2020
    #6
  7. thorn

    thorn F1 Rookie Silver Subscribed

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    Where? I haven't.
     
    thorn, Apr 11, 2020
    #7
  8. freshmeat

    freshmeat F1 Veteran

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    458s have been in the 150-170K range long before covid-19...

     
    freshmeat, Apr 11, 2020
    #8
  9. ChipG

    ChipG Formula 3

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    Sounds like a PR move to try to restore confidence in the market that has taken a big hit, go over to the Pista & F8 thread, now people are canceling their orders in numbers like never before.

    It reminds me of a hedge fund investor on CNBC who hypes a stock then sells it.
     
    ChipG, Apr 11, 2020
    #9
  10. RedNeck

    RedNeck F1 World Champ Silver Subscribed

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    ****, where? Been watching C7 Corvettes and haven't seen a dollar wiggle in the market.
     
    RedNeck, Apr 12, 2020
    #10
  11. Auraraptor

    Auraraptor F1 World Champ Lifetime Rossa Owner

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    Hmm, is that so. I should start looking at 458s...
     
    Auraraptor, Apr 12, 2020
    #11
  12. 2Velocebro

    2Velocebro Rookie

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    I'm not looking at models that new, so it may be a different story, but for the 3X8 models it appears as though prices were softening throughout 2019 anyways, and the covid lockdown is just amplifying the trend a little.
     
    2Velocebro, Apr 13, 2020
    #12
  13. flat_plane_eddie

    flat_plane_eddie F1 Rookie Owner Regional Sponsor

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    I haven't seen anything really drop. My thought is that most sellers hope/think this is going to be a short term thing. If we're going to be in a recession (or already are) then prices will come down significantly in the next 1-2 months.
     
    flat_plane_eddie, Apr 13, 2020
    #13

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