Ferrari’s (NYSE:RACE) Monza Supercars Big Boost to Earnings
Ferrari (NYSE:RACE) plans to sell 499 units of the Monza SP1 and SP2 Supercars at $1.85-M each. Over 2 years of production, that will generate an additional $755-M in revenue.
The figure is the Italian price and includes a 22% VAT, which means just over $1.5-M net of tax. “The dealer slice” also would have to be subtracted from the additional revenue, said Enrico Galliera, Ferrari’s head of sales and marketing. He did not disclose what the margin will be.
The special-series cars, 1st shown on 18 September at Capital Markets Day in Maranello, Italy, was at the Paris Auto Ahow alongside the 488 Pista Spider, which makes its EU debut after being shown in August at Pebble Beach, California
The price of the Monza SP includes Loro Piana pilot outfits and Berluti accessories.
The choice of the 1-seater SP1 or 2-seater SP2 “is up to the customer,” said Mr. Galliera, adding that “on my opinion, it will be equally split among the 2 versions.”
The Monza has been developed “without regard to the homologation process,” Mr. Galliera said. It will be possible for customers to get homologation in Europe, while it will not be street legal in the US and Asia and will be driveable only on closed circuits and racetracks.
The Monza SP1 and SP2 will be assembled on a dedicated line that will be set up in the Maranello factory, Mr. Galliera said. The line will remain active for additional cars of the new retro-styled Icona line.
More than 500 units of the 488 Pista Spider will be produced.
The car, which is “the fastest roadster ever produced by Ferrari,” has been offered to “selected customers” at $378,000. Of those customers offered the chance to buy 99% have decided to do so.
Both the 488 Pista Spider and 2 Monzas were offered in various markets proportionally to the level of sales in each market. The number of collectors in each market also was relevant in allocations of the Monzas.
The Monza has been sold to the kind of customers Ferrari calls “Ambassadors,” who not only buy many cars, but also show them and participate in the company’s events and initiatives.
|NYSE:RACE||129.5||8 October 2018||-2.78||128.81||130.1||128.3||721,020|
|HeffX-LTN Analysis for RACE:||Overall||Short||Intermediate||Long|
|Neutral (0.11)||Neutral (0.01)||Neutral (0.01)||Bullish (0.31)|
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