Ferrari’s (NYSE:RACE) CEO Points Out, “Tesla is Not a Supercar”
- There is more to Supercars that straight-line speed.
Thursday, Ferrari reported solid F-Y 2017 earnings and its shares posted all time highs.
On the earnings call, CEO Sergio Marchionne spoke with analysts on a conference call taking questions about a rumored all-electric Supercar.
At the Detroit International Auto Show in January, Mr. Marchionne said, “If there is an electric Supercar to be built, then Ferrari will be the 1st.”
Mr. Marchionne has made it clear that does not believe that Tesla (NASDAQ:TSLA) has created a Supercar by any stretch of the imagination.
Note: Tesla unveiled a new Roadster last November that, when/if built, will be the fastest thing on the road, with a predicted 0-60 time of 1.9 secs and forward looking styling.
He reiterated his “Ferrari will be 1st” comment, in the process taking a shot at the handling characteristic of EVs (electric vehicles). They are not great. The cars are stunning in a straight line, but that makes it more of an electric muscle car than a flashy European go-around-corners demon, like, say, a Ferrari 488 GTB.
He also took a shot at Tesla, citing an earlier 0-60 time.
“I have read some interesting analyst reports that suggest that that now that Tesla has done a car that does 0-60 mph in 2.7 secs, that does not make it a Supercars,” he said.
“Well, I would challenge anybody who has driven an electric car to try and drive at the same way we drive a Ferrari and you’d recognize immediately that the handling characteristics of the car are totally different. So whenever Ferrari will express itself in a fully electric vehicle, it will do so by making sure that both sound and handling are reflective of Ferrari’s heritage.”
Mr. Marchionne has a point.
People who have driven the Tesla Model S in Ludicrous Mode say it is certainly fast, but there is no comparing it with Ferrari 488, and there’s no reasonable comparison.
You can take a stock Ferrari 488, set it up for racing, and run it in the 24 Hours of Le Mans. You can take a Tesla Model S to the drag strip. Apple, meet orange.
Zero-to-60 performance makes headlines because it’s a neat way to deliver the “fast” message, but those in the know about performance cars understand that acceleration is just 1 piece of it.
For example, the huge electric batteries that EVs have to lug around present a bigger challenge for handling than the internal-combustion components of a Ferrari, which can be moved around the vehicle’s frame to optimize balance.
Ultimately, Tesla and other EV brands might produce their versions of Supercars. But Ferrari says that its electric Supercars, should they ever exist, will still be not just Ferrari-good, but Ferrari-better.
Remember, Ferrari is the standard of the world for Supercars and has be for 70 years.
|NYSE:RACE||127.63||2 February 2018||-0.56||130.35||130.63||127.57||1,160,187|
|HeffX-LTN Analysis for RACE:||Overall||Short||Intermediate||Long|
|Bullish (0.44)||Bullish (0.48)||Bullish (0.35)||Very Bullish (0.50)|
Have a terrific weekend.