Ferrari Unveils Spider Models in Record Launch Year
Deliveries up 8% during the second quarter compared with 2018.
(Bloomberg) --
Ferrari NV unveiled two new cars in a record year in terms of model range renewal, a move that will likely allow the Italian supercar maker to boost sales and increase average prices.
On Monday, the Maranello-based company in Northern Italy revealed a sports car equipped with its most popular mid-rear-mounted 720-horsepower V8 engine, called F8 Spider, and a more comfortable Gran Turismo -- also known as 812 GTS -- with a 12-cylinder powertrain. Its 800-horsepower engine makes it the most powerful production Spider model on the market, according to a statement. Both models can reach a top speed of 211 miles per hour.
While the Ferrari F8 inherits the bloodline of open-top cars that began in the late 1970s, the 812 comes a half century after the debut of the last Ferrari Spider, mounting a 12-cylinder engine up front, with a style that resembles the Ferrari 365 GTS4 -- also known as Daytona because of its legendary win in the late 1960s.
The supercar maker has unveiled a record four new models this year and plans to unveil a fifth one by year’s end with a goal of delivering about 10,000 vehicles in 2019, Chief Executive Officer Louis Camilleri said earlier. That’s up from total shipments of 9,251 cars last year. The company is pushing a strong renewal of its model range that will likely allow it to boost average prices.
Ferrari is increasing the price of the two supercars by 11% compared with the previous models. The F8 Spider will cost 262,000 euros ($289,000) for Italian customers, while the price tag for the 812 GTS will be 336,000 euros, Ferrari Chief Marketing and Commercial Officer Enrico Galliera said at an event near Maranello on Monday. Production of both cars will start in the first half of 2020, while deliveries will begin in the summer of the same year, he said.
Camilleri is pursuing a target to generate 2 billion euros ($2.2 billion) in operating profit before some items no later than 2022 for the brand with the iconic prancing-horse logo. To get there, he’s planning more profit-boosting by releasing limited-edition sports cars.
In May, Ferrari showed off its plug-in hybrid designed for a full production run. The 1,000-horsepower SF90 Stradale is designed to keep pace with tightening emissions regulations while still satisfying its power-hungry customers.
The company’s deliveries rose 8% during the second quarter of 2019 compared with last year, less than the 23% gain during the first three months of the year, Ferrari said. Sequentially, shipments and profits were flat. This slowdown followed rival Aston Martin Lagonda reporting lower vehicle prices, in an ominous development for an elite European brand.
--With assistance from Tommaso Ebhardt.
To contact the reporter on this story: Daniele Lepido in Milan at dlepido1@bloomberg.net
To contact the editors responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net, Pete Norman, Dan Liefgreen
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