Geneva: Ferrari’s (NYSE:RACE) 812 Superfast Sold Our Before Its Debut
Ferrari debuted its fastest production car in its history, underscoring its reputation for Superhigh performance.
The 812 Superfast debuted at the Geneva International Motor Show Tuesday with a 12-cylinder, 800-hp engine that accelerates to 62 mph in as little as 2.9 secs, making it Ferrari’s most powerful production model ever.
The new flagship Supercar has sold out for Y 2017, Ferrari CEO Sergio Marchionne said.
“We have to make sure the demand is there, and we always have to supply less than the demand,” he said.
Having promised its shareholders a boost in sales and profit following its Y 2015 IPO, Ferrari faces the challenge of selling more cars without diluting its allure and exclusivity.
Mr. Marchionne is likely to reach his target of selling 9,000 cars annually by Y 2019, and he is pushing high-performance cars like the 812 Superfast to maintain earnings momentum.
By keeping supply capped by model is the Key to protecting Ferrari’s reputation. “We need a much wider range of products than we’ve got today,” in order to increase volumes beyond 9,000 vehicles, he said.
There’s still a “phenomenal amount of space” to expand Ferrari’s range without massive investment in new technology and platforms, Mr. Marchionne has said in the past.
Such low-risk expansion is critical for the iconic manufacturer as it competes on its on without the backing of a bigger industry player, as does Lamborghini and others.
Ferrari’s edge in the sector are its high-powered, hand-crafted Supercars, HyperSupercars, and Special Editions, which these days are appearing with increasing frequency.
The manufacturer sold out its $2.1-M Special Edition LaFerrari Aperta last year even before its debut, and it’s rolling out 350 limited-run models of its 5 main lines to celebrate its 70th Anniversary this year.
The 812 Superfast replaces the F12 Berlinetta, the car can exceed 210 mph.
Borrowing from the automaker’s Formula 1 designs, it’s aimed squarely at a core audience of racecar aficionados. The new model has flaps in the underbody that suck in air when the brakes get hot. With a high fastback tail and curving wheel arches, it is meant to evoke the 1969 365 GTB (Daytona), while adding modern aerodynamic lines.
Spun off from Italian-US automaker Fiat Chrysler Automobiles NV (NYSE:FCAU) in Y 2015, Ferrari posted record profit last year and plans to increase earnings by at least 8% this year. The company previously limited production to 7,000 annually to protect its exotic allure and now expects to sell about 8,400 vehicles this year after 8,014 units in Y 2016.
The 812 Superfast is priced at $308,000 in the US, sans Tax and License.
|NYSE:RACE||65.48||8 March 2017||-0.11||65.92||65.94||65.43||198,800|
|HeffX-LTN Analysis for RACE:||Overall||Short||Intermediate||Long|
|Very Bullish (0.53)||Bullish (0.41)||Very Bullish (0.56)||Very Bullish (0.62)|
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