Ferrari seeing unprecedented sales with V8 demand and growing wait lists
By: Anthony Crawford @ caradvice.com.au
If you ordered a Ferrari 488 GTB or Spider today, it probably won’t arrive until late 2018. And it’s the same scenario with the California T and pretty much every car in Ferrari’s stable. Even the latest model, the GTC4 Lusso T, released just this week, already has a waiting list – meaning, if you order one today, don’t expect delivery until 2018. Sales are unprecedented, thanks in part to there being more models in Ferrari’s line-up than ever before in the marque’s official 69-year history.
Any new addition to the range spells good news for smaller markets like Australia, as it provides more volume and more opportunity to welcome new clients to the Ferrari family, according to Herbert Appleroth, CEO of Ferrari Australasia. “The GT4 Lusso T is important for us, because it’s our first V8, front-engine, four-seater from Ferrari, so it’s an additional model to the range. And, of course, like the California T, it has the potential to attract new buyers to our brand. “And when you know that 85 per cent of the volume in the GT segment is V8, this car is an important part of our line-up. It also provides a great opportunity to attract a lot of those buyers to Ferrari for the first time, now we have the product that suits them”, he added.
Unlike its V12-powered GTC4 Lusso sibling, Appleroth says the V8 Lusso offering has been positioned to appeal to a completely different buyer set. “We have ‘V12-isti’, who like for a particular style of driving and generally don’t use the car daily, whereas with the GTC4 Lusso T, it’s about a more youthful, dynamic inner-city buyer who might use the car for the daily school run on the way to work, as well as picking up the shopping, but still able capable of an intensely spirited drive on a weekend away. “It’s also perfect for inner-city driving, with the added benefit of four-wheel steer, which makes this car feel more agile and able to deal with small city lanes, because after about five minutes behind the wheel, it starts to feel small”.
Ferrari also believes the new Lusso will pull buyers from other up-market brands who are looking at the next level in the daily drive. “This is a car that will attract buyers from the traditional British brands, but it’s also a nice stepping stone for clients to come to Ferrari, who might drive a luxury SUV or even a Porsche Panamera or Aston Martin Rapide, someone who wants to step up to the next level in terms of automotive ownership”, Appleroth told CarAdvice. Of course, if you want one, you’ll need to get your order in quick-smart, because like the entry-level Ferrari California T, which is already sold out for 2017 for Australia, supply is almost always outstripped by demand. “We’re trying to get more, because that’s the car that brings all the new-to-Ferrari buyers to our brand, and that’s exactly what the GTC4 Lusso T will also do – bring those GT buyers to Ferrari.
“The marketplace is changing. It used to be a big step for other luxury car owners to get the Ferrari-like $500,000-$600,000 mark, but now you’ve got brands that have moved into that space, as well as some luxury SUVs for around $200,000-$300,000, so it’s a natural step up for those buyers. “Same goes for the sports car market, the gap between Porsches and Ferraris has become smaller with some models. “It’s a great marketplace now, one that is up 35 per cent, and we’re getting the lion’s share of that. We’ve currently got the youngest model range in our segment, and possibly in the business. There’s been two new models every year for the last two years from Ferrari, which is almost too many cars,” said Appleroth. Asked about moving away from naturally aspirated engines to turbocharged powertrains, Appleroth was quick to point out that turbocharging was nothing new to Ferrari, “We produced the F40 in 1987, so it’s not something new to us.
“There were rumblings that maybe the traditionalists wouldn’t like the new turbo engines, but that’s certainly not the case if you look at the 488 and California T – we’ve never had more success, more demand for our cars. “The demand is unprecedented, because it’s the perfect technology for the everyday user in these times. High torque, low rpm – that still feels naturally aspirated, which is just what you need for a blend of city and urban driving” he added. Ferrari also offers a unique warranty program for its clients, which not only includes a three-year unlimited kilometre warranty, but also adds seven years of no-cost scheduled servicing – transferable to another owner. “That’s important, as it adds to our industry-leading residual values for our clients, which is currently 92 per cent, which again, is quite extraordinary.”