Ferrari (NYSE:RACE) Boss Putting New Dino in the Tail Lights
Ferrari’s (NYSE: RACE) CEO Sergio Marchionne looks to be moving away from constructing a modern version of the Dino, due to other priorities including the possibility of a Ferrari FUV.
The Dino (unbadged from Fiat) was a mid-engined, rear-drive sports car produced from 1968-1976.
The Dino badge was in honor of Ferrari founder Enzo Ferrari’s son Alfredo, aka ‘Dino’ who was a racing driver and engineer, credited with the 1.5-litre V6 that would later see service in early formula racers.
Dino Ferrari died in Y 1956 at 24 anni from Muscular Dystrophy.
The history of the Dino sports car
The Dino was Ferrari offer of a lower-cost sports car to take on the Porsche 911, also fitted with a flat-6 rear mounted engine, distinguish itself from the Ferrari V12 models, which outperformed Porsche.
The 1st road-going Dino, the early 206 GT cars were built by Fiat, was the 1968 Dino 206 GT, designed by Leonardo Fioravanti at Pininfarina, I had the 1st one in the USA.
CEO Marchionne told a group of analysts on a recent earnings call that an entry-level sports car might diminish the brand’s exclusivity by downgrading from its V12 and V8 models.
He also questioned the need to build cheaper sports cars to attract younger buyers, noting the brand’s incredibly young customers in Asia who can afford the cars, priced as they are.
Mr. Marchionne told a media gathering at this year’s Geneva motor show, he wanted to boost sales to around 10,000 units, not by selling more of the current models, but by producing new Ferrari models.
Accordingly he outlined other strategies to attract new buyers to the marque.
“We need to explore ways to attract customers to traditional values of the brand such as style, performance and sound before downgrading the entry-level price for the brand,” said Mr. Marchionne.
Nevertheless, a final decision on the Dino and possibly news on a FUV (Ferrari Utility Vehicle), is not likely before Ferrari holds an investor day to announce its next 5-year plan in Q-1 of Y 2018.
Meanwhile, Ferrari’s keen and adept leadership is driving its shares due North, and has been doing so since mid-July 2016.
The iconic Italian Supercar maker leads the world wide auto sector by many circuit laps.
Tuesday Ferrari shares marked another all-time high at 115.64, causing analysts to reassess there calls.
|NYSE:RACE||115.15||22 August 2017||2.30||112.89||115.64||112.85||788,372|
|HeffX-LTN Analysis for RACE:||Overall||Short||Intermediate||Long|
|Bullish (0.47)||Bullish (0.38)||Bullish (0.46)||Very Bullish (0.58)|
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