FlASH: Ferrari (NYSE:RACE) will expand its product line-up through diversifying the types of models it offers, according to commercial and marketing chief Enrico Galliera.
Rather than focus on traditional replacements and variants of existing models, Mr. Galliera will transform Ferrari by introducing new segments to the line-up – and he’s not just talking about its FUV slated for Y 2022.
“What we are trying to do is become a lot less predictable. We are currently working to redesign our products of the future.
“For example, the SF90 Stradale is not a car that was in our product range previously. It’s a completely new car, new technology, a new segment. It is what we are calling a ‘range Supercar’. It is not a LaFerrari. But it does supercar performance – and is available to a wider range of customers.”
Mr. Galliera has previously confirmed there will be five models launched this year. We have already seen the F8 Tributo and SF90 Stradale, while the remaining 3 are still not known, but is expected to be a convertible variant of the 812 Superfast, and Mr. Galliera hinted that at least 1 would be in a “new segment” for Ferrari.
He said that there are 5 launches in Y 2019, creating new segments for Ferrari to attract different customer profiles. There are a clients who are looking for something different.
“For example, Portofino is not necessarily peak Ferrari but it’s more elegant, more comfortable. There were lots of people that wanted a Ferrari but were scared by high-performance car.” He went on to say, “We have a saying: different Ferraris for different Ferraristas.”
By expanding its breadth of models, Mr. Galliera believes the brand can maintain exclusivity while still growing. “This is our strategy for the future. We are not selling more of the same product. We grow without pushing a single model.”
“We will see growth through new segments. And we expect to grow further in higher-end models. For example, the SF90, which has a 25% higher price than rest of range.”
Last year, Ferrari sold 9251 units, a figure which is expected to grow this year. The introduction of its FUV in Y 2022 is set to push volume beyond 15,000 units.
Now watch this
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 Very Bullish, overhead resistance is at 175.02, and very strong support at 166.71, all Key indicators are Very Bullish in here. Ferrari finished at 167.22, +0.72 Monday in NY.
Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term investment, and I see it at 200/share in that frame.
Have a terrific week
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