The 2020 Hagerty Bull Market list showcases the Top vehicles that its valuation experts project will appreciate in the coming year.
Ferrari (NYSE:RACE) reputation was just making a comeback with the F355 in the late 1990’s when the company’s then Chairman, Luca Cordero di Montezemolo, decided to modernize the House of Enzo: Aluminum.
Partnering with US supplier Alcoa to develop the 355’s replacement, Ferrari debued the 360 in Y 1999 as its 1st aluminum addition in what would become a company-wide switch to the lightweight alloy.
The graceful Pininfarina lines harnessed existing Ferrari iconography such as the quad round tail lights while ushering in new ones like the transparent engine cover.
Underneath red intake plenums the 40-valve 3.6-liter Tipo F131 V-8 was a characteristically Italian short-stroke screamer, wailing to 8500 rpm in pursuit of its 400 hp, although only 275 pound-feet of torque, about the same as the 2020 Honda Accord Turbo. Gated shifters were still available on Ferraris then, as was an F1 paddle-shift transmission.
The 360 Spider appeared a year later and gorgeous with the top up or down. The engineers produced a folding roof that did not hide the engine when stowed, and extensive wind-tunnel work produced an open cabin remarkably isolated from wind noise.
More than 17,000 copies of the 360 emerged from the Maranello Outfit, and for many of the model years, spiders represented over 50 the Ferrari’s production.
THE HAGERTY VALUATION TEAM SAYS: More of these cars are coming off normal insurance policies and onto Hagerty policies, the number rising 211% in the past 3 years. Which means they’re gaining more of a reputation as an enthusiast or collectible car rather than a used exotic. The design has aged well and looks elegant in a way a lot of cars from that era don’t. The F1 transmissions were more common, but the gated shifter is what collectors desire.
Enzo Ferrari’s iconic Italian Supercar manufacturer claimed the title according to the latest Brand Finance Global 500 2019 report launched at the World Economic Forum in Davos.
HeffX-LTN overall technical outlook for RACE is Bullish to Very Bullish, overhead resistance is NIL, and Key support at 167.60, 3 of our Key indicators are Neutral to Bullish, and the stock has established strong long term support ahead of this coming breakout North.
Ferrari finished at 168.54, +3.32 Wednesday in NY.
Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term luxury products investment, and I see it at 200+/share in that frame.