Ferrari (NYSE:RACE) is against pink Supercars.
With the new Roma, Ferrari has broadened its customer base by attracting new clients interested in a “less intimidating car.” That’s not to say the new GT has been specifically designed to lure female buyers as the Maranello Outfit not fond of the idea of a car created for women only. A the company’s Chief Marketing and Commercial Officer, Enrico Galliera, in a recent interview clearly stated
A Key reason Ferrari will not be coming out with a female-centric model is that women actually do not want a “female Ferrari.” He goes on to say that going down this road could have a negative impact on sales as designing such a car might force some of the male buyers to go with another brand.
Even without launching a product that would cater to a female audience, Ferrari is seeing an increase in sales among women thanks to a series of events organized by the company for couples noting: “We have seen a rise in female customers worldwide. I have to be honest, this is coming because we did a lot of activities where the couple can share the experience… The activities are not for the males who are addicted to the car. It’s the possibility to share the experience.”
In the same interview, Mr. Galliera said that while women are afraid to drive some of the more hardcore models, the Roma should address this issue with a “more elegant” design. However, he pointed out the 612-horsepower coupe is equally both for men and women, adding you will not be able to get 1 in pink regardless of how much money you are willing to pay.
“We are a Supersports car builder and there are some colors or combination of colors that we believe should not be put on our car.”
A Ferrari model that may attract more female buyers is the Purosangue, the brand’s 1st FUV due to arrive in Y 2021.
Our overall technical outlook is Bullish in here, as all Key indicators are Very Bullish.
Ferrari finished at 179.19, -2.99 Friday in NY, just shy of its intraday all time highs at 183.50 marked on 22 July 2020.
The Maranello Outfit’s shares were raised to Buy from Hold at HSBC.
Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term luxury products investment, and I have called it at it at 200+/share long term, adjusting it to 200/share short term (after the virus) and siding with BAML to 230 long term for now. The stock is now considered defensive in the sector.
Have a healthy weekend, Keep the Faith!