Ferrari revealed on Monday its two new releases as the Italian premium automaker...
MARANELLO, Italy - Ferrari RACE.M revealed on Monday its two new releases as the Italian premium automaker pursues an aggressive roll-out of new models to sustain its turbo-charged core earnings and share price growth.
With a 720-horse power 3.9 liter eight-cylinder mid-rear mounted engine, the F8 Spider also has a retractable hard top. Although a GT, it displays a massive 800-horse power front-mounted 12-cylinder engine, making it the most powerful production convertible on the market, Ferrari claims. Ferrari has also promised several special edition hybrid cars and a utility vehicle, the Purosangue, which is expected by late 2022 as it seeks to almost double core earnings and boost margins to above 38% without sacrificing exclusivity.
Elkann, however, said that Ferrari - which shipped fewer than 10,000 cars last year - would not try to chase German rival Porsche which has expanded its sales volumes to more than 250,000 sports cars and SUVs annually. Ferrari does not change the selling price during a model’s life-cycle, normally four to five years. Prices increase only through the introduction of new models, which, in Ferrari’s philosophy, always mean better performance than previous ones.
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