You will not see a Portofino around again until the coronavirus lockdowns are finished, these Ferrari race horses are stabled for now.
Ferrari (NYSE:RACE) designers say styling inspiration for the Portofino came from the Ferrari Daytona of the 1970’s. But I see Portofino as Ferrari’s interpretation of a comfortable long-distance Grand Touring car (which the Daytona was not), with the added feature of a hard Top convertible, giving it the berlinetta look.
The Portofino is more graceful than its California T predecessor is technical superior in every category.
Despite its front-engine layout, its 2+2 seating, and its folding convertible hard Top, the Portofino is an impressive sports car, with genuine performance, handling and braking capabilities that exceeds expectations, not surprise as this is a Ferrari.
Much of the California T’s foundation is beneath the Portofino, but the differences are impressive. They start with the skin, which is undeniably gorgeous, while the California just wanted to be. A weight-saving program trimmed 175 lbs of performance-sapping mass, and the chassis is stiffer, further aiding its quicker responses with 35% better torsional rigidity. That means when you turn the steering wheel, you turn the car rather than twisting a flexible body structure.
The Portofino always wants to get to the front of the race, with its engine’s industrial-grade audio accompaniment and less-than graceful gear changes from the track-ready dual-clutch transmission.
In this kind of race horse makeup, relaxation is the furthest thing from the Portofino’s mind, or even its range of capability. Which is fine, if your goal is to have a purebred race car that has space for friends or family to enjoy the car with you just as soon as the world coronavirus lockdown is finished.
Portofino is not a car for low-speed café trolling, if that is your aim buy a Bentley Continental GT. But, if there is a better looking hard Top convertible than the racehorse-like Ferrari Portofino, I have not seen it.
Ferrari finished at 129.50, -10.06 Monday in NY, and 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.
Have a healthy day, stay home!