Sign in
Forgot your password?
or Sign up
News

Euro/$ - Ferrari

Discussion in 'Ferrari Discussion (not model specific)' started by Napolis, Jan 27, 2004.

  1. Napolis

    Napolis Three Time F1 World Champ
    Honorary Owner

    Oct 23, 2002
    32,118
    Full Name:
    Jim Glickenhaus
    #1 Napolis, Jan 27, 2004
    Earlier Tuesday, Montezemolo said the depreciation of the dollar would weigh
    on Ferrari's 2003 results. Ferrari does 40% of its sales in the U.S. currency
    while proceeds from the Formula One racing circuit, including sponsorship fees,
    are also denominated in the dollar.
    Montezemolo, who is also on the board of Fiat, said he didn't expect
    particularly robust sales growth in 2004.
     

    2. To remove this ad click here.

  2. Texas Forever

    Texas Forever Four Time F1 World Champ
    Rossa Subscribed

    Apr 28, 2003
    47,828
    Texas!
    #2 Texas Forever, Jan 27, 2004

    So, do you think Ferrari will raise prices despite the growing glut of expensive cars or will they tough it out and take the hit? It doesn't look like the Euro will be headed down in the near term of, say, the next year or two.

    However, the Fed is sending out clues that "inflation" is becoming a problem again, after spending all their bullets in recent year shooting down deflation fears. So maybe interest rates and inflation will tick up after the election, which should start bring the Euro down, or is it up? I'm glad that I don't have to make these calls. Although, for one or two Enzos and a couple of F-40s and, maybe a really sharp 275 GTS, I'd be happy to stick my neck on the chopping block. :)

    DrTax
     
  3. Napolis

    Napolis Three Time F1 World Champ
    Honorary Owner

    Oct 23, 2002
    32,118
    Full Name:
    Jim Glickenhaus
    #3 Napolis, Jan 27, 2004
    I think the price rise that goes into effect in a few days may be the first of several. I think the fed won't do anything before the US elections.
    Interesting times.
     
  4. amenasce

    amenasce Two Time F1 World Champ
    Silver Subscribed

    Oct 17, 2001
    29,576
    Full Name:
    Joe Mansion
    #4 amenasce, Jan 27, 2004
    Its time for some classic to come back to Europe :)
     
  5. Napolis

    Napolis Three Time F1 World Champ
    Honorary Owner

    Oct 23, 2002
    32,118
    Full Name:
    Jim Glickenhaus
    #5 Napolis, Jan 27, 2004
    That's happening. Esp. 275 GTB's.
     

    6. To remove this ad click here.

  6. amenasce

    amenasce Two Time F1 World Champ
    Silver Subscribed

    Oct 17, 2001
    29,576
    Full Name:
    Joe Mansion
    #6 amenasce, Jan 27, 2004

    Good good :)..but im still not in the market for one :) !
     
  7. ross

    ross Three Time F1 World Champ
    Silver Subscribed Owner

    Mar 25, 2002
    32,777
    houston/geneva
    Full Name:
    Ross
    #7 ross, Jan 27, 2004
    hard to believe that the fiat corp would not be hedging currencies in the forward markets......seems to me, this is a good camouflage for less than stellar results, and price increases in their number one market.

    time to open a ferrari plant in arkansas and make an suv ;)
     
  8. Napolis

    Napolis Three Time F1 World Champ
    Honorary Owner

    Oct 23, 2002
    32,118
    Full Name:
    Jim Glickenhaus
    #8 Napolis, Jan 27, 2004
    Ross
    P is hedged through 07 but VW took a huge hit by being under hedged.
    It looks like F isn't hedged enough.
    Best
     
  9. Kds

    Kds F1 World Champ

    May 1, 2003
    10,804
    Canada and Brasil...
    #9 Kds, Jan 27, 2004
    MB hedges also and this year prices increased a mere 1 - 1.5%.

    Not bad.
     

    10. To remove this ad click here.

  10. tx246

    tx246 F1 Veteran
    Rossa Subscribed Owner

    Nov 4, 2003
    5,672
    Texas
    Full Name:
    Shawn
    #10 tx246, Jan 27, 2004
    is any one aware of how much of a price increase is likely?
     
  11. Napolis

    Napolis Three Time F1 World Champ
    Honorary Owner

    Oct 23, 2002
    32,118
    Full Name:
    Jim Glickenhaus
    #11 Napolis, Jan 27, 2004
    10%? The Euro has risen 25% vrs $, If 40% of F rev in $: 25% of 40% to stay even.
     
  12. trkevin

    trkevin Formula Junior

    Nov 3, 2003
    894
    Belgium
    Full Name:
    K. Blommaert
    #12 trkevin, Jan 27, 2004
    That's already happened. In August 2003 an 860 Monza was bought by a Dutchman at Pebble Beach. The car was sold at an record price, but the guy paid (of course) in Euros. Which means he actually paid 10% less.
    I really hope more of this kind of cars will come to Europe.
     
  13. Napolis

    Napolis Three Time F1 World Champ
    Honorary Owner

    Oct 23, 2002
    32,118
    Full Name:
    Jim Glickenhaus
    #13 Napolis, Jan 27, 2004
    You're right about that I was there. My friend with whom I share a shop bid on that car but with the strong euro and that Dutch Guy bidding so strongly he dropped out. BTW that is a beautiful car.
     
  14. trkevin

    trkevin Formula Junior

    Nov 3, 2003
    894
    Belgium
    Full Name:
    K. Blommaert
    #14 trkevin, Jan 27, 2004
    I heard that he got a standing ovation when he was the higgest bidder. Is this right? He also have a nice 250TDF and a nice Van Gogh painting. He's a Dutch guy, but he should live here in Belgium.

    Do you know if this car have already been in Europe, because I saw this car is also at Cavallino now.
     
  15. Napolis

    Napolis Three Time F1 World Champ
    Honorary Owner

    Oct 23, 2002
    32,118
    Full Name:
    Jim Glickenhaus
    #15 Napolis, Jan 27, 2004
    I don't know where it's going to race but Bill Noon said it would be. It sounded great and my friend said it drove very well. It seemed to be fully restored.
     
  16. trkevin

    trkevin Formula Junior

    Nov 3, 2003
    894
    Belgium
    Full Name:
    K. Blommaert
    #16 trkevin, Jan 27, 2004
    The car was announced to be displayed at the Essen Motor Show in December 2003. But it wasn't there :-(

    He already participated in the Mille Miglia with his 250TDF. Maybe this year with the 860M.
     

Share This Page