What’s the latest on additional Pista allocations?

I think Porsche depreciation is an interesting topic and I would be wary of potentially large depreciation (in Australia only). As you are probably aware parallel importing laws mean that car companies in Australia can charge what they like as you cannot "currently" easily import a new car. They argue that this is good for "safety reasons" but a by-product of these laws is that they create a cartel environment.

I decided to have a look at what global prices (specifically US and UK) were vs our prices - I normalised our prices to account for our local taxes/currency etc. In summary most of the major brands (Ferrari, Lamborghini, McLaren) more or less charge us the same price as they do in the US and UK. However Porsche charge us a significant premium, this is further exacerbated by our high taxes on expensive cars.

An example - in the UK a 488 pista costs 252,765 pounds vs 207,506 pounds for a GT2 RS or 18% cheaper. In Australia a GT2RS is $645k vs a pista at $597k (ex options and on road costs) - i.e.a 8% premium.

Why is this? You might ask your local dealer why, but the actual answer is they are screwing Australian customers. I have no idea when this will stop, but I wouldn't be surprised if one day soon they were forced to do so.

 

I did my own calculations also before I purchased my 488 GTB

The 488 gtb stock price , no taxes and the BS Luxury tax is $ 373,500 but if you do a conversion 0.70 its $261,450 USD close to their but mind you the $8,000 k plus full electric seats are included . So basically the same price.

Just as you commented.

As you pointed out its the other brands that you can see are ripping us off. Someone with xxxx got to change the Governments proposal of allowing to import new cars.

Safety load of crock ! They would come for either England or Japan.

We get screwed all the time and no government will change it as long as they are getting their taxes

 

We also have a 5% import duty with some countries including Italy!

 

Some sour grapes a few posts ago bashing on ferrari game. Someone got burned I take it.

 

Depreciation is part of buying any car. Some brands just depreciate more than others. Insofar as Porsche and Ferrari overly profiteering goes it comes down to whether you want the car enough to pay the ticket. What’s more annoying is when a brand tells you something as gospel and then moves the goal posts once they have your money.

 

The "new" Ferrari has begun. Starting with the F8 and henceforth, all regular production models are going to reserve 35% of production to first time buyers. This has been mandated by the factory. Accept the fact that Ferraris will now depreciate at the same level as all other exotics. Ferrari , as a public corporate entity, is now on course to produce increasingly large numbers of vehicles and the natural evolution of this philosophy is to open up the brand to new purchasers. Buyer history will only be a factor in securing allocations for limited production models. While this new paradigm may be upsetting to long time Ferrari owners, it is exciting for new buyers who previously had little opportunity to purchase a new F car. Consequently, it seems intuitive that the Pista, for example, will resist depreciation to a greater degree than the F8 which will be produced in much higher numbers than any previously regularly offered models.

 

For those who wish to ameliorate depreciation on the cars, buy RACE stock as it should see a significant jump in price, as it witnessed by the rise in the last couple of months.

 

Is that really any different? Ferrari have always sold cars to first time owners or none of us would be here. And you have always had to have a history to buy the limited cars. I was a first time (new) owner on Speciale - I couldn’t have an Aperta. A friend is a first time new owner on a 488 GTB, another friend a first timer on a 488 Spider... I have now bought a number of cars and I have very happily been able to get a Pista Spider. That new Ferrari that has just begun looks quite like the old one if you ask me.

 

There is a difference now since Ferrari, in order to greatly expand car production, is mandating the allotment of 35% of new cars to first time buyers. Every dealer has been instructed that 35% of F8 allocations MUST be given to those new to the brand.

 

I have the feeling people have short memory - Ferrari used to depreciate a lot (which allowed me to get great cars at relatively low prices, and also cost me a lot when selling them back - but that was what it was, and I don't complain).
Then there was a crazy market around 2015 (for whatever reason), and now people seem to consider this particular hiccup as the generic previous Ferrari situation...
To me the reality is that the situation is constantly evolving, which makes predictions difficult. Ferrari has also reviewed the way they price special series, which may impact the futiure price evolution - the price gap between the 488 (and even F8) and Pista is far higher than the price gap between the 458 and Speciale, which may limit the depreciation resistance of the Pista.
In the long run I wonder why people would consistently pay $100K more for a Pista than for a Speciale - and that's what would be needed for the Pista to have the same depreciation results as the Speciale.

 

Lets maybe put another totally different perspective on things. As one gets older one realises that time is "running out" and we will get to a point where wanting/driving these cars is no longer aspirational. In addition once all the basic needs are covered (house, investments, kids education) one starts to enjoy life. A very good friend said to me "make the money before 50 and spend it after 50". So this is what I am doing i.e. spending it.

So in essence all this talk on depreciation etc while interesting (and yes hurts) doesn't really matter to those who have reached a point where they can see that that time is really their "enemy" and want to enjoy life. One can't take it with you....

 

Written source?

 

Ummm because the Pista is a far better looking and more advanced car than the Speciale. And I loved my Speciale. But Pista is far better looks wise.

That’s why.

 

Where is that stated? By default, new allocations have to be given to new customers as their 30% production increase essentially mandates it, but never seen anything mandating it from the factory. If you want a F8, just walk in and you'll get it 3 months after all initial batches get delivered. The car is already dated before it's even released.

I believe you're correct in the new Ferrari expectation, where they will depreciate just as much as the other brands. Many of us were expecting a lot more from Ferrari... I guess their recent F1 mentality is truly trickling down to their performance cars.

 

Can you share with us the source of your information?

 

Doesn't that assume that of the potential Ferrari buyers, that at least 35% of them actually want an F8? Or really, that 35% of all car buyers actually want and can afford an F8?

Pretty big assumptions.

 

I don’t really see any evidence that Ferrari will depreciate in the future any different to the past, with the exception of PuroSangue. That is to say they almost always do better than other exotics but in bad economic times they will still be super-expensive to own. The 4 seaters have always been pretty stiff, though lesser percentage than the big German stuff. The Pista will be bought by similar people to the Speciale and there has been greater demand for it. The F8 by comparison to both Pista, 458 and 488 represents amazing value. With a growing demand worldwide for expensive cars I don’t see why F8 will be an issue.

 

It must be so good to be the highest tier of customer in Ferrari...
To those select few, Ferrari asks if they want whatever model first and then on to the other customers.
Basically it’s the other way around eheh!

 

Looks are subjective, but to me the Pista is more advanced than the Speciale just the same way the 488 is more advanced than the 458 - and in spite of proudly owning a 488, I would never claim that the 488 should be valued consistently $100K more than the 458 on the secondary market (although that's about the current price difference between an almost new 488 and a 2010 458 on the European market now).

 

It’s not definitely the same
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The only difference visually is the cats have been moved elsewhere on the F8 and the top cover doesn't have a red strip....to be expected as the GPF has been integrated with the cats now. I would say instead of 2 separate cats there is just one large one combined with the GPF somewhere further downstream?

 

The differences are probably deeper

 

One can only hope.

 

FERRARI IS VERY SENSITIVE TO BENEFITS no reason to put titanium rods for a price comparable to a 488 GTB

Italian combinazione !

 

To my surprise they kept them.
The F8 engine description on the Ferrari web site specifically mentions them: "the increase in performance is provided in a more reactive way thanks to lightening solutions on the rotating masses, such as the F1 derived titanium connecting rods."
So the F8 is really a bargain