Home Ferrari Ferrari’s 296 GTB is the Basis for the GT3 Track Model (Video)

Ferrari’s 296 GTB is the Basis for the GT3 Track Model (Video)


#Ferrari #296GTB #GT3 #Supercar


“Ferrari is expected to use the 296 GTB as its next-generation GT3 car beginning in 2023” –– Paul Ebeling

Ferrari (NYSE:RACE) is planning to use the 296 GTB as the base car for its next GT3 competition model launching in Y 2023, according to the director of the Italian manufacturer’s Attivita Sportive GT department.

Antonello Coletta has indicated that the 296 GTB its V6 mid-engine plug-in hybrid sports car that was unveiled last month is in line to replace the Ferrari 488 GT3 Evo 2020 after next yr’s racing season.

He added that “internal studies” are ongoing to determine the final approved model.

The road-going 296 will be powered by a 2.9-liter, 120-degree internal combustion engine producing 663 hp, which is similar to the output of the 488’s twin-turbo V8.

The main engine is linked to a 167 hp electric motor. However, GT3 does not allow hybrid technology, so this motor would need to be removed for a 296-based racing model.

The model base for the new car will probably be the 296, the new car that we presented recently,” Mr. Coletta said. “This is probably our new base of the car.

“I think it’s very, very early. We have more chance to choose the model because there exist more projects that are coming.

“But of course it is impossible to explain outside of the factory, because we are doing internal studies.”

Mr. Coletta said that Ferrari is warming up for the presentation of its next-generation GT3 racer, which will make its debut in less than 2 yrs’ time.

The 296 road car is set to enter production in Y 2022, while the competition model is slated for a Y 2023 debut.

Y 2923 is due to mark a big yr in Ferrari’s motorsport story, as the company launches new flagship racing products in both GT3 and Le Mans Hypercar.

“The production of the road-going 488 is finished,” said Mr. Coletta.

We have 2021 and 2022 for GT3 and GTE, but after we stop. We finish at the end of 2022, probably with a Challenge for one more year. But with GT3 and GTE we stop.

“Of course it’s normal that if GTE-Am continues, we have the 488 for one year. But after, probably all the classes move to the GT3 category. We will be ready with the new car.”

Mr. Coletta stressed that the upcoming GT3 model will be developed by Ferrari. An external partner will then be appointed to help build and service the cars.

In April, ORECA was reported as being set to replace Michelotto as Ferrari’s GT racing build partner. Mr. Coletta would not name ORECA when discussing the next GT3 program, but indicated that the build partner will probably be new.

Long-time Ferrari associate Michelotto is confirmed as the 488 GT3 build partner up to the completion of and beyond the car’s homologation cycle.

“Our collaboration with Michelotto is long-term and I think that will continue for the future,” he said. “Because Michelotto works for Ferrari on many activities, not just GT3. Nothing is stopped.

“I would like to be very clear: Ferrari is in charge of the Ferrari car projects. LMH, GT3… the projects are in the charge of our technicians.

“After, we assemble the car with a partner, and the partner for the new GT3 probably will be different. This is the only different aspect. But the project is in charge of Ferrari.

“I know that around the world exists a lot of misunderstanding. The car is created in Maranello. This is most important.”

Mr. Coletta suggested that Ferrari’s intention is for its new GT3 car to roll out shortly before its Le Mans Hypercar does the same.

The unnamed Ferrari LMH will be a 4WD hybrid-powered car built to the prototype side of the technical regulations.

“The car is getting ready for the 2023 season,” said Mr. Coletta when asked about the next-generation GT3 vehicle’s debut. “It’s another project that we studied from the factory.

“I hope that [the] first test will be before the LMH. I hope in February next year, two or 3 months before the LMH. We are very busy. But we hope to make a good job.”

Ferrari is The Aristocrat of the automotive sector.

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

Our overall technical outlook is still Bullish, a Key indicators are Bullish long-term. Ferrari reported strong earnings for Q-3 on 3 November and did the same for Q-4 and F-Y 2020 as reported on 2 February.

Ferrari closed Thursday at 207.21 within its 52 wk range of 127.73 – 233.66 in NY. It’s all time high in NY was marked at 233.66 intraday on 29 December.

Key technical indicators are Bullish mid to long term. The candlestick pattern indicates the confirmation of the break out at 196.01 on 3 November and confirmed.

The Key support is at 206.34 and the Key resistance is now at 210.29. The 22 July Hammer candlestick augurs a return to the Very Bullish trend.

Note: At the beginning of Y 2020 I called RACE at 230 by year’s end, the stock was trading at 165.22 on 1 January 2020, on 29 December 2020 it marked 233.66 intraday, its all time high

The Maranello Outfit’s shares were raised to Buy from Hold at HSBC, and Buys at Morgan Stanley and Bank of America.

UBS is now calling the stock at 365. I have not seen any other Street downgrades.

Ferrari will continue to create value in the long term as it becomes the world’s 1st Super Luxury brand.

Ferrari is a quality 1st long term luxury products investment, BAML raised its call to 270 long term.

I have raised my long term target to 375, a Strong Bull call, the strongest on the Street and am holding the mark during this recent profit taking, and seeing RACE as a buying opportunity.

Ferrari has an average rating of Buy and a consensus target price at 231.99.

The Maranello Outfit’s shares were raised downgraded from Buy to 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 am calling it 375 long term, the Top on the Street, and adjusting it to 250/share short term.

A number of large investors have recently bought shares of RACE, and there have been very few instances of insider selling over the past yr that we have seen. And Ferrari continues to buy back its stock in here.

The stock is considered defensive in the sector.

Have a prosperous day, Keep the Faith!

Previous articleOne&Only Portonovi Resort Montenegro, a Super Luxury Resort
Next articleAsia-Pacific Markets Mixed
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.