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Ferrari to raise prices.

Discussion in 'Ferrari Discussion (not model specific)' started by Carnut, Jan 20, 2004.

  1. Carnut

    Carnut F1 Rookie
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    Nov 3, 2003
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    Morrie
    I just heard that as of Feb 15 360 coupe and spider prices will rise about nine grand, and 575 list pice will also go up.
     
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  3. wax

    wax Four Time F1 World Champ
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    Who/ What/Where did you hear it? Or did you read it somewhere?
     
  4. Carnut

    Carnut F1 Rookie
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    I was at my dealer yesterday, heard it being talked about.
     
  5. Ferrari 1

    Ferrari 1 Karting

    Nov 3, 2003
    175
    Fort Lauderdale
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    Benn Correale
    360 6sp. Berlinetta = $157,445. retail
    360 F1 Berlinetta = $168,140. retail
    360 6sp. Spider = $182,275. retail
    360 F1 Spider = $193,150. retail

    575M and 360 Stradale remain the same.
     
  6. Doody

    Doody F1 Veteran

    Nov 16, 2001
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    proportionally, that'd mean about a $13K increase for the 575.

    the 360 is one thing - they're still flying out of the showrooms....

    doody.
     
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  8. FerrariFlip

    FerrariFlip Karting

    Dec 19, 2003
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  9. titanium360

    titanium360 F1 Rookie
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    Nov 10, 2003
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    i guess the 360 spider market just went up again!
     
  10. udalmia

    udalmia Guest

    so much for the used prices dropping
     
  11. Napolis

    Napolis Three Time F1 World Champ
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    Oct 23, 2002
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    Jim Glickenhaus
    The euro has risen 25%+ vrs the $ and Ferrari, unlike P who is hedged long term, and other European mfgs aren't.
    So far this has cost VW over 1 Billion $.
    P is interesting. If you buy a CGT in the US it will cost you 56K less than in Europe simply due to the Euro/$.
    Their hedging will allow them not to raise their prices in the US.
    Parts will be going up as well.
    If the Euro/$ dosen't reverse soon, and I for one don't think I will because of the Huge def. the US is running and will for years F car prices will continue to rise. P has a huge advantage through 07.
     
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  13. WCH

    WCH F1 Veteran
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    Mar 16, 2003
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    "unlike P who is hedged long term"

    Good treasurer? Good outside advisors? Seems pretty smart right now, just curious who gets the credit at P for such a good call.
     
  14. tifosi

    tifosi F1 Veteran
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    luck, if the euro went lower they would be getting hammered for doing it
     
  15. tifosi

    tifosi F1 Veteran
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    i would point out that if they follow Us accounting rules they have already recorded all the gain on these positions in the current year, they are not carried forward to future years in the income statement.
     
  16. saiid

    saiid Karting

    Jan 6, 2004
    52
    London, UK
    I don't think its that smart. I'd say its about assessing the risks and acting in the best interests of the company. Most corporatins that are exposed in this way would take similar steps to protect their interests. BMW has local manufacturing to provide a natural hedge in its local markets. I'd say Ferrari is less business-orientated maybe? Like a football club possibly, e.g Real Madrid. Winning and being champions of Europe is more important than the bottom line!
     
  17. Napolis

    Napolis Three Time F1 World Champ
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    While that may be true P's Hedge will help them through 07. I for one think if Bush is reelected, and I think he will, the US def. will continue to grow and the $ could lose 20% from here.
    Hedging is a normal part of many CO.'s operations. It's not for free and some do it too late. (VW is now much more hedged). Having mfg. in the US a la BMW certianly helps. (The Japanese also are in this position)
    Let's say P keeps it's prices stable but F and Lambo are forced to raise theirs. At what point will it effect F and Lambo?
     
  18. tifosi

    tifosi F1 Veteran
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    i hear you Jim, I was just pointing out that our great accounting rules require them to records gains today versus lower income which will not come through until the future assuming rates are unchanged from today.
     
  19. Napolis

    Napolis Three Time F1 World Champ
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    You're right.
     
  20. AEHaas

    AEHaas Formula 3

    May 9, 2003
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    Ferrari seems to raise prices about this time of year every year.

    aehaas
     
  21. Texas Forever

    Texas Forever Four Time F1 World Champ
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    Apr 28, 2003
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    Napolis, just curious, I'd like to hear more about why you think the dollar will keep dropping after the election. I'm an amateur at understanding the impact of international trade on the USA. However, because I do some real estate investing, it really helps to be able to peer into that murky crystral ball and guess what might happen in 2 or 3 years.

    For example, sooner or later, the Fed will have to raise interest rates, yes/no/maybe? While it would be nice to think that the fed funds rate will stay at 1% forever, experience says that someday it will move up. When this does happen, shouldn't this booster the dollar?

    Plus, it is my understanding that the Euro countries, particulary Germany, are in the tank. The loss of future export bidness due to the high Euro will only make things worse, yes? If so, this should drive down the Euro.

    Frankly, I'm more concerned about the offshoring trend than the weak dollar. They say that offshoring just rearranges the deck chairs. But, it is starting to look more like musical chairs where the circle keeps getting smaller and smaller. You have homebuilder economists saying that low interest rates offset the negative impact that the jobless recovery has on home sales. Me thinks that they best lay that crack pipe down. With no new jobs, nobody will be buying homes even at negative interest rates.

    I realize that these are complicated questions, and you, along with the rest of us, don't really have the spare time to fully address these questions. But any light you, or anyone else, can shed on this will be greatly appreciated.

    Signed, Confused and Dazed but Warm in Texas -- DrTax
     
  22. Napolis

    Napolis Three Time F1 World Champ
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    I agree that a "jobless recovery" is NOT a recovery. At some point this will became a MAJOR issue. That's part of the dollars' prob. I can't see the fed raising interest rates for a while and that hurts the dollar. Bush wants to go to the moon. He wants to cut taxes. He's spending money like it grows on trees. The def. is growing. At some point the flow of Foreign money coming into the US will really will slow up. Money chases return. If this "recovery" does not produce real jobs God Help Us All.
    Europe is no day at the beach but look at OPEC. IMHO they're keeping oil so high because they get payed in dollars and the euro/dollar means they're losing 25%+ against the euro which they have huge exposure to.
    Hey now that Dean is toast maybe the Dem's can raise these issues.
    Best
     
  23. nberry

    nberry Formula Junior

    Nov 1, 2003
    714
    Does anyone know whether this price increase applies to all cars ORDERED after Feb. 15th or to cars DELIVERED after the 15th.? Legally it would seem they would have a problem increasing prices on cars already ordered and being built.
     
  24. saiid

    saiid Karting

    Jan 6, 2004
    52
    London, UK
    I don't know about Ferrari, but when I bought my Porsche, they said that if the price moves by more than 3%, I could drop out.
     
  25. rudy

    rudy Formula Junior

    Jan 13, 2004
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    High prices keep out the riff-raff. Good. Wait a minute...I'm the riff-raff.
     
  26. saiid

    saiid Karting

    Jan 6, 2004
    52
    London, UK
    LOL. Over here its the riff-raff that drive these cars. The aristocracy drive Subaru Forresters and 10-year old Range Rovers.
     
  27. 134282

    134282 Four Time F1 World Champ
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    Tell these folks that... Maybe they'll listen to YOU...
     
  28. sparetireless

    sparetireless Formula 3
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    Construction completion date is probably the date they will go with.
     

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