Ferrari powers ahead with two new models as firm chases profit boost
Italian supercar manufacturer Ferrari lifted the lid on two new cars today as it pushes on with an aggressive roll-out plan designed to keep its recent profit and share price growth in top gear.
The so-called prancing horse, long a motor racing icon and household name in luxury cars, unveiled the F8 Spider and 812 GTS at its headquarters in north Italy.
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The high-performance Spider and the easier-driving grand tourer (GT) are part of Ferrari chief executive Louis Camilleri’s plan to launch 15 new models between 2019 and 2022, and achieve a significant increase in average retail price.
Ferrari said the 720-horse power F8 Spider is “sportier” than the 488 Spider model which it replaces in the range. Meanwhile, the 812 GTS will be the most powerful production convertible on the market. It will mark the “return for a model type that has played a pivotal role in the marque’s history since its foundation”.
The GTS will cost €336,000 (£300,075), while the F8 will be priced at €262,000. The first deliveries are expected before summer 2020. The average sales price for a Ferrari stood at around €274,000 last year, including spare parts.
Ferrari’s share price has rocketed 243 per cent in the last three years, to 147.6 cents.
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“We want to grow, not by increasing the volumes of existing models but by adding new members to the Ferrari family,” said chief commercial officer Enrico Galliera, adding it was the highest number of releases for Ferrari in a single year and marked one of the company’s healthiest periods commercially.
“We’ll remain consistent with our original philosophy, to always deliver one car less than the market demands,” Galliera said on Monday.
Main image: Ferrari