Ferrari sets a sky-high price tag (over $535,000) for its first electric car, launching late 2025. Ferrari is revving up its electric engine – literally! The iconic Italian automaker is preparing to launch its first-ever electric car in late 2025, and the price tag will undoubtedly turn heads. Buckle up, because this electric stallion is expected to cost a staggering €500,000 (over $535,000).
Confidence in the Ultra-Wealthy Market
While mass-market electric vehicle (EV) prices are dropping, Ferrari remains confident in the ultra-luxury segment. This sky-high price reflects their belief that wealthy car enthusiasts are eager to embrace electric power, even at a premium.The price doesn't include optional features and customizations, which can further inflate the cost by 15-20%.
Production Expansion and Balancing Exclusivity
Ferrari is constructing a new factory in Maranello, Italy, specifically for this electric vehicle. This "e-building" signifies a bold move towards increased production capacity, potentially reaching 20,000 cars annually – a significant jump from their current output of under 14,000 vehicles. However, such a production increase carries the risk of diluting the brand's coveted exclusivity.
Lessons from the Purosangue SUV
Ferrari successfully expanded its portfolio with the 2022 Purosangue SUV, proving their ability to cater to a broader range of luxury car enthusiasts without jeopardizing brand prestige. Additionally, the ever-growing pool of wealthy individuals in emerging markets like India and the Middle East further fuels demand for exclusive Ferraris.
Future Plans and Competition
The new Maranello factory will be operational within a few months and handle production for gasoline, hybrid, and electric vehicles, alongside components for hybrid and electric models. A second electric model is also in the early stages of development. While Ferrari might not immediately reach a 20,000-car annual production target, an increase in model offerings seems likely. Their main competitor, Lamborghini, plans to debut their first EV in 2028, highlighting the growing competition in the luxury electric vehicle landscape.
Analyst Viewpoint
Financial analysts anticipate Ferrari's EV will maintain high margins to offset the development costs of new technology and outsourced parts. They expect this electric model to be a niche product, accounting for a small percentage of annual sales. The core Ferrari clientele is still likely to favor gasoline-powered models for the foreseeable future.
Additional Information:
Ferrari's first electric car is expected to debut in late 2025.
The base price is estimated to be over $535,000, excluding options and customizations.
A new factory in Maranello will produce both gasoline and electric vehicles.
A second electric model is under early development.
This news marks a significant step for Ferrari as they enter the electric vehicle arena. It will be interesting to see how their high-performance electric car is received by their loyal clientele and how it shapes the future of the luxury electric vehicle market.
Source: Reuters
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