Ferrari’s (NYSE:RACE)Portofino Receives a Mandarin Welcome on China Launch

Ferrari’s (NYSE:RACE)Portofino Receives a Mandarin Welcome on China Launch

Ferrari’s (NYSE:RACE)Portofino Receives a Mandarin Welcome on China Launch

$RACE

Ferrari (NYSE:RACE) has brought its Portofino to China, as part of their 70th Anni celebrations that featured a program covering 60 nations.

The Portofino is the successor of the California T, the Supercar will have a starting price of RMB Yuan 2,908,000, or $438,382, including luxury tax, at today’s exchange rates, in the People’s Republic of China.

To understand just how expensive the entry level Ferrari is in China, know that for that money one would be able to buy a 488 Spider in the US, with about $150,000 to spare.

Coinciding with the Chinaside launch of the Portofino, Ferrari retrieved with the ‘China Performance Car of the Year’ title, which was given to the 812 Superfast by a panel of 29 Editors-in-Chief, who voted it the most favored in Greater China after several rounds of screening and evaluation.

The award was presented to the iconic Maranello outfit in Guangzhou on 16 November.

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 111.82 22 November 2017 0.33 111.98 112.309 111.285 217,700
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Neutral (-0.03) Neutral (-0.14) Neutral (-0.08) Neutral (0.12)

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