Global electric vehicles are rolling out new low prices, but Ferrari is clearly going the opposite way. According to insiders, Ferrari's first electric car is priced at least 500000 euros (equivalent to 3.9 million RMB), excluding other expenses.
As a globally renowned luxury car brand, Ferrari has promised to launch an electric car by the end of next year. At present, it is opening a related factory to produce electric vehicles and increase the group's total production by one-third.
Referring to the pricing of Ferrari's competitors, the average selling price of luxury electric vehicles is generally around 350000 euros, which makes Ferrari's target ambitious. With optional features, enhanced functionality, and personalized customization, the final selling price of Ferrari electric cars may be around 15-20% higher.
Fabio Caldato, portfolio manager of AcomeA SGR, who holds Ferrari stocks, said that the market demand for Ferrari is increasing, and the company has enough production capacity to meet the demand without compromising its brand uniqueness.
He also pointed out that the waiting time for new electric vehicles will not be shortened, and for wealthy consumers, being on the waiting list itself is a symbol of status. He also added that the number of affluent customers from emerging markets such as India and the Middle East is increasing.
Luxury status cannot be lost
Sources have pointed out that Ferrari's new factory will be fully operational within three to four months. It will not only provide Ferrari with additional car assembly lines, but also produce fuel vehicles, hybrid vehicles, and components assembled in hybrid and electric vehicles.
In addition, Ferrari's second electric vehicle model is reportedly already under development, but it is still in its early stages. Sources have revealed that Ferrari also does not want to increase its total car production to 20000 units in the short term.
In 2022, Ferrari produced only 13221 cars in total.
Sources say that any increase in production represents the launch of new models, as Ferrari insists on controlling the production of all models within certain limits to preserve the scarcity of its vehicles, regardless of how successful the model may be.
Mediobanca analyst Andrea Balloni predicts that the price of Ferrari's new electric vehicles will be higher to help the company maintain profitability and compensate for the costs it spends on electric technology development and a large number of external procurement components.
He added that the new electric vehicle model will be a niche model, accounting for slightly over 10% of annual sales. He believes that Ferrari's core customers still prefer gasoline models.