Ferrari is looking less like a carmaker and more like Hermes
His contention is not just that Ferrari is a luxury-goods company, comparable in some ways with France's Hermes, the most valuable firm in that industry – but that it is a unique one.
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The maker of high-end sports cars has succeeded in boosting sales while adhering to the maxim of Enzo Ferrari, who founded the firm in 1947, that it should sell 'one less car than the market demands'.
Despite its expansion, Ferrari insists that it is as exclusive as ever, having grown fastest in places such as the Middle East where sales were once small.
Recently, it has also raised prices at a far faster pace than in the past. As Stephen Reitman of Bernstein, a broker, points out, the price of new models used to be 3-5 per cent higher than those they superseded, whereas the new 12Cilindri is a whopping 30 per cent more than the 812 Superfast it replaces.
That is also true for Ferrari's hugely profitable flagship cars, which arrive at irregular intervals, justified by improved technology learnt from racing. Deliveries of the latest, the F80, which costs €3.6 million, will begin soon, 12 years after the launch of the LaFerrari, which set owners back a mere €1 million or so.
Total revenue from the F80 will exceed €2.3 billion, says Jefferies, a bank. To plug the gap between launches of these money spinners, Ferrari has started to make special limited-edition cars, such as the Daytona SP3 unveiled in 2021 (price: €2 million), which are high-margin styling exercises underpinned by existing models.
Ferrari also now offers far more opportunities for personalisation, from custom paint-jobs to added carbon fibre and lavish interiors. These can add 20 per cent to the price of its cars, which Barclays, a bank, reckons will set back buyers an average of more than €500,000 next year.
The firm is able to charge such eye-watering prices thanks to the devotion of its loyal fans. Some 80 per cent of customers are already owners.
Many make a pilgrimage to the factory; some, overcome by emotion, are said to shed a tear.
Judging the mood of its customers by keeping in close contact with about 180 dealerships worldwide allows Ferrari to draw its most avid collectors into an inner circle. Tariff-induced price rises have made no difference to orders from America.
Sales of the F80 (of which Ferrari is making just 799) were three times oversubscribed. Getting chosen for one required buying several other Ferraris and acting as an ambassador, including turning up at car shows organised by the firm (and paying for the privilege).
Even that was not a guarantee. Customers accept that Ferrari cannot serve everyone, explains Enrico Galliera, its marketing chief, dubbed 'Mr No' for frequently rejecting requests from would-be buyers. They may fear that any sign of disgruntlement will mean being bumped down future waiting lists.
All this sounds similar to how ultra-luxe fashion brands such as Hermes operate.
Yet, Vigna reckons Ferrari has even more going for it than the maker of pricey leather goods. His firm combines heritage with cutting-edge technology. It takes part in racing events such as the British Grand Prix on July 6, which are central to the brand's marketing. (Hermes organises a show-jumping tournament – classy, but less adrenaline-fuelled.)
Chinese consumers, who have lately tightened their purse strings, account for just 8 per cent of Ferrari's sales, compared with as much as two-fifths at Hermes.
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And Ferrari relies almost exclusively on the very rich, who are more insulated from downturns. A good chunk of revenue at Hermes comes from cheaper goods such as scarves, ties and perfume, much of which are sold to consumers who are wealthy, but not outrageously so.
What could go wrong for the car industry's ritzy star? Some say that its price rises are already too aggressive. Further increases in production may eventually threaten the brand's perceived exclusivity. Revenue from personalisation has its limits.
Ferrari also has one thing in common with more mundane car firms: the transition to battery power. The Elettrica, its first foray into that segment, will hit the road next year.
The company recently doubled the size of its factory in Maranello, which will give it flexibility to make the electric vehicle without producing fewer of its current models. Yet other electric super-cars have been met with indifference.
If Ferrari's fails to impress, the carmaker's pristine image could be damaged. Worryingly, on June 17, reports emerged that it would delay a second electric model by two years, to 2028.
Vigna still has to solve his trickiest problem yet.
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2025 Chevrolet Corvette Z06 review
Chevrolet Corvette Pros Chevrolet Corvette Cons What a tease. I got the keys to this Chevrolet Corvette Z06 – complete with the Z07 Performance Package – one unrelentingly rainy week, one in which I had no track time scheduled. So here I was in this wild-looking, track-ready supercar, and I couldn't unleash its full potential. It was like having a bag full of tools and no DIY project. But hey, even if you did plan on buying and tracking Chevy's new flat-plane crank V8-powered Z06, that's theoretically only going to account for a small portion of your overall driving. For track impressions, you can check out James Wong's review. So what's the Z06 like to live with? That I can tell you! First thing you'll need to know is this car is an introvert's nightmare. I don't think I've ever driven a car that has attracted more attention, with the already aggressively styled Z06 enhanced further by the Z07 Performance Package. Our tester wore carbon-fibre ground effects and dive planes, plus an enormous rear wing. The result? Kids jumping up and down waving. People sticking their mobile phones out of car windows filming. Hell, someone even followed me down a street and pulled over as I was parking and asked to take pictures of it. The Z06 looks absolutely wild, and with the current C8 moving the engine from up front to midship, it has proportions more closely resembling much pricier Ferrari and Lamborghini supercars. It's the first Corvette with a double overhead-cam, flat-plane crank V8, and slots in above the pushrod V8-powered Stingray and the electrified E-Ray, the latter of which uniquely features a hybrid system and all-wheel drive. Missing from our shores thus far is the ZR1, which takes this new 5.5-litre V8 and bolts on a pair of turbochargers, or the recently revealed ZR1X that combines this engine with an AWD hybrid system like the E-Ray's. If there was ever any question before that the Corvette was a supercar, that seems to have been well and truly answered with the C8. And it's the only American supercar, now that the Dodge Viper is gone and the Ford GT has died again. The way the light bounces off the spoiler at night might bring to mind the '59 'batwing' Chevys, but this is a bona-fide Ferrari competitor. And yet, it's also surprisingly liveable. The Z06 is, thus far, the priciest member of the local Corvette lineup. It looks like a bargain, especially considering the cheapest Ferrari is a $500k-plus proposition. But our tester had a raft of pricey options, including: That's close to $80,000 in options. We imagine plenty of Ferrari and Lamborghini buyers drop that much (or more) in options, but it's surprising to see just how long the options list is on a Corvette – and how much opportunity you have to really personalise your sports car. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool Let's address the elephant in the cabin. Chevrolet recently revealed an update for the Corvette that makes some significant changes to its interior, including the removal of the distinctive row of buttons on the side of the centre console that separates the passenger's side of the cabin. Other changes include a larger touchscreen and a rejigged centre console. Therefore, a lot of the gripes we have with the outgoing C8's cabin will soon be addressed. I'm personally a bit sad to see the wacky button bridge go, though. What won't change with the update is the basic layout, and that's a good thing. The design is striking, with a very driver-focused cockpit that sees the touchscreen angled towards the driver. Getting in is a bit tough but once you're in it's comfortable, even for my lanky 6'3'' nephew in the passenger seat. The seats are heated and ventilated and prove grippy and supportive, ideal for a spirited blast without sacrificing day-to-day comfort. Your passenger may be shocked to find there's no grab handle, however. The driver sits behind a squared-off, chunky steering wheel with carbon-fibre trim, which can also be found in various places throughout the cabin, including the centre console, and it's applied tastefully. Set these pieces aside, and essentially every surface has been given the appearance of being leather-wrapped, with prominent stitching. This is deceptive, however. There's soft-touch trim on the doors and the sides of the centre console, where we'd argue this is crucial. But there's a lot of hard plastic too, including the hood over the instrument cluster. At circa-$190,000 for the base Stingray, I could almost let this slide, but at the circa-$330,000 price point of the Z06 it's disappointing. At least all the trim, whether hard or soft, looks uniform, though we did observe some janky stitching on one side of the centre console. There's a handy head-up display, while the instruments are all digital and feature multiple different layouts. Chevrolet has employed slick graphics for the digital cluster, which are reminiscent of Lotus' Unreal Engine-based graphics, however they're let down by some slight pixelation. The infotainment system will be familiar to anybody who has been in a recent Chevrolet product, much like some of the physical switchgear. But the infotainment system works well, with an intuitive menu structure, a reliable wireless connection for smartphone mirroring, and attractive graphics, and like the carryover switchgear it works well. Would buyers really notice these items were used in lesser Chevrolets if it wasn't pointed out by motoring journalists? We will ding Chevy for the column stalks, however – these could be much nicer for this price point. Also, the cupholders are terrible as they lack a rubberised base and look cheap. You can also get a mobile phone stuck in the gap next to the lid when it's open, and it's a nuisance trying to retrieve it. The air-conditioning is excellent, which is to be expected for a company that once counted Frigidaire as one of its subsidiaries. Having the controls on that unusual 'bridge' seems goofy at first, but it's refreshing to have physical switchgear for all of this and it's easily accessible by both occupants. Alas, this design cue is going away with a coming MY26 upgrade. Storage isn't exactly abundant in the cabin, though you do get a centre console bin. There are two luggage compartments, one behind the engine and one up front. The one in the rear can fit an overnight bag or two, and you can squeeze a small duffel into the front compartment. The Z06 can be had only as a coupe in Australia, though it has a removable roof panel. Pull two levers and it pops off easily, and if you manoeuvre it correctly it can fit in the rear luggage compartment. If you look behind yourself, you can admire the engine, proudly displayed under a glass cover. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool The Z06 may be the priciest Corvette in Australia, but it's not the quickest from 0-100km/h. The E-Ray beats it to the century by just one tenth of a second. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool Let's address the elephant in the drive first: the sound. Australia uses the same exhaust setup as Europe, which sees the centre-mounted outlets replaced with four outlets, two on each side at the rear. Not only does this make the Z06 look more like the cheaper Stingray and E-Ray, it means it doesn't sound as good as either of those cheaper variants. We parked a Z06 next to a E-Ray for a rev test – in the interests of science, of course – and it was the hybrid that sounded better. The Z06 also has a rev-limiter, preventing it from being revved beyond 3000rpm when stationary. If you want to show off to your friends how your Z06 sounds, then, you're going to be disappointed. Mind you, it doesn't sound bad… it just doesn't sound as good as a supercar at this price ought to. Once you're on the move, the Z06 has a distinctive sound of its own. It has a lovely metallic growl when you punch it, though it has a tendency to drone. Settled into a cruise with the engine revving at around 2000rpm, there's this omnipresent clatter of sorts. It's a less common type of V8 with a less common type of noise, and you may or may not like it. At least noise suppression in the cabin is good, allowing you to easily carry on a conversation even with the engine literally right behind you. And what a delight it is to look behind you and see that big V8 proudly on display. You may or may not like the sound, but you'll find it much harder to fault how this engine feels. For starters, it's bloody quick. You gather pace rapidly, and this is a V8 that loves to be revved. The eight-speed dual-clutch automatic transmission handles the grunt of the 5.5-litre V8 terrifically. At low speeds, it feels more like a traditional automatic, and in Touring and Weather drive modes the throttle is still progressive and isn't dulled. As you build up revs, the Z06 starts to pick up the pace and moves through the gears with ease. Shifts are rapid, and it doesn't hold onto gears annoyingly long, even in Sport mode where they're more pronounced. The current gear helpfully appears in the instrument cluster, and I never felt the need to use those gorgeous carbon-fibre paddle shifters. Naturally, in Sport mode shifts feel more pronounced. Drive modes are selectable via a rotary dial on the centre console. Even more intuitive to use is the Z button on the steering wheel, which puts the steering, suspension, engine, engine sound, transmission and brakes in their most aggressive settings. There's also a customisable My Mode, allowing you to toggle your preferred settings for steering, suspension, engine sound and brake feel. I configured it to have the suspension in the softest setting, the steering to the intermediate setting, and engine noise to the loudest. The steering is terrific in terms of weighting and feel, and the Z06 has a pointy nose with small inputs leading to direct movements. Even in its intermediate weight setting, the Z06's steering doesn't feel overly heavy. The shape of the wheel and its slick carbon-fibre parts discourage you from driving with your hands at 10 and 2, so you'll have to put them at 9 and 3 where they belong. The Z06 handles like it's on rails, feeling perfectly poised in corners. Oh how I wish I could have taken this to the track… The tyres have an abundance of grip, and even in the wet there's still a solid connection with the road. The carbon-ceramic brakes on our tester also work wonderfully, without feeling ridiculously grabby in regular driving. You might think the Z06, looking the way it does, will feel too extreme for the daily commute. You'd be wrong. Okay, I found it a bit stressful to drive, but that was almost entirely due to all that fragile-looking carbon-fibre on the exterior. There is thankfully a nose lift system to prevent you from tearing up the bumper on your driveway, but you'll still want to be careful in the Z06. You can adjust the firmness of the suspension, and even in Sport mode it's taut but comfortable. Visibility out of the Z06 is awful, so what a relief Chevrolet included a digital rear-view mirror and blind-spot monitoring. The Z06 has a reversing camera and two front cameras, which it stitches together for an overhead view. But there's no traditional surround-view camera. Also missing from the features list are rain-sensing wipers, which is a strange omission. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool The Z06 sits atop the local Corvette range. 2025 Chevrolet Corvette Z06 equipment highlights: There's also a huge options list, and besides those mentioned earlier you can also specify your Z06 with various different wheels, stripes, and brake caliper and seatbelt colours, as well as a transparent roof. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool The Chevrolet Corvette hasn't been assessed by ANCAP or Euro NCAP. Standard safety equipment includes: There's also a digital rear-view mirror which, trust us, in a car with blind spots like this is most definitely a safety feature. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool The Corvette's aftersales offering isn't spectacular. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool Given the price premium of not only the Z06 over other Corvettes, but also this loaded Z06 over the regular Z06, you'd want to be taking this to the track. There's no question this has a unique feel relative to the cheaper Stingray and E-Ray, from the distinctive engine note to the way power is delivered. Then there are the enhancements that come with the Z07 package, which help make the 'Vette even more of a track weapon. But the Z06 carries a premium of over $60,000 over an E-Ray and over $130,000 more than a Stingray, and that's before you take into account options and on-road costs. Is this the best Corvette for track work? In the absence of the ZR1 in Australia, we'd argue yes. And the Z06, despite its significant impost, is still cheaper than a comparable supercar with a bull or prancing horse badge. You just need to decide how much that greater track focus over a Stingray is worth, and if that figure is more or less than $134,000. And if you are happy to pay Z06 money, we reckon a new exhaust should be your next purchase. Regardless, the Corvette is playing in the big league now, and this is a compelling American alternative to Europe's finest. Interested in buying a Chevrolet Corvette? Let CarExpert find you the best deal hereMORE: Everything Chevrolet Corvette Content originally sourced from: Corvette Pros Chevrolet Corvette Cons What a tease. I got the keys to this Chevrolet Corvette Z06 – complete with the Z07 Performance Package – one unrelentingly rainy week, one in which I had no track time scheduled. So here I was in this wild-looking, track-ready supercar, and I couldn't unleash its full potential. It was like having a bag full of tools and no DIY project. But hey, even if you did plan on buying and tracking Chevy's new flat-plane crank V8-powered Z06, that's theoretically only going to account for a small portion of your overall driving. For track impressions, you can check out James Wong's review. So what's the Z06 like to live with? That I can tell you! First thing you'll need to know is this car is an introvert's nightmare. I don't think I've ever driven a car that has attracted more attention, with the already aggressively styled Z06 enhanced further by the Z07 Performance Package. Our tester wore carbon-fibre ground effects and dive planes, plus an enormous rear wing. The result? Kids jumping up and down waving. People sticking their mobile phones out of car windows filming. Hell, someone even followed me down a street and pulled over as I was parking and asked to take pictures of it. The Z06 looks absolutely wild, and with the current C8 moving the engine from up front to midship, it has proportions more closely resembling much pricier Ferrari and Lamborghini supercars. It's the first Corvette with a double overhead-cam, flat-plane crank V8, and slots in above the pushrod V8-powered Stingray and the electrified E-Ray, the latter of which uniquely features a hybrid system and all-wheel drive. Missing from our shores thus far is the ZR1, which takes this new 5.5-litre V8 and bolts on a pair of turbochargers, or the recently revealed ZR1X that combines this engine with an AWD hybrid system like the E-Ray's. If there was ever any question before that the Corvette was a supercar, that seems to have been well and truly answered with the C8. And it's the only American supercar, now that the Dodge Viper is gone and the Ford GT has died again. The way the light bounces off the spoiler at night might bring to mind the '59 'batwing' Chevys, but this is a bona-fide Ferrari competitor. And yet, it's also surprisingly liveable. The Z06 is, thus far, the priciest member of the local Corvette lineup. It looks like a bargain, especially considering the cheapest Ferrari is a $500k-plus proposition. But our tester had a raft of pricey options, including: That's close to $80,000 in options. We imagine plenty of Ferrari and Lamborghini buyers drop that much (or more) in options, but it's surprising to see just how long the options list is on a Corvette – and how much opportunity you have to really personalise your sports car. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool Let's address the elephant in the cabin. Chevrolet recently revealed an update for the Corvette that makes some significant changes to its interior, including the removal of the distinctive row of buttons on the side of the centre console that separates the passenger's side of the cabin. Other changes include a larger touchscreen and a rejigged centre console. Therefore, a lot of the gripes we have with the outgoing C8's cabin will soon be addressed. I'm personally a bit sad to see the wacky button bridge go, though. What won't change with the update is the basic layout, and that's a good thing. The design is striking, with a very driver-focused cockpit that sees the touchscreen angled towards the driver. Getting in is a bit tough but once you're in it's comfortable, even for my lanky 6'3'' nephew in the passenger seat. The seats are heated and ventilated and prove grippy and supportive, ideal for a spirited blast without sacrificing day-to-day comfort. Your passenger may be shocked to find there's no grab handle, however. The driver sits behind a squared-off, chunky steering wheel with carbon-fibre trim, which can also be found in various places throughout the cabin, including the centre console, and it's applied tastefully. Set these pieces aside, and essentially every surface has been given the appearance of being leather-wrapped, with prominent stitching. This is deceptive, however. There's soft-touch trim on the doors and the sides of the centre console, where we'd argue this is crucial. But there's a lot of hard plastic too, including the hood over the instrument cluster. At circa-$190,000 for the base Stingray, I could almost let this slide, but at the circa-$330,000 price point of the Z06 it's disappointing. At least all the trim, whether hard or soft, looks uniform, though we did observe some janky stitching on one side of the centre console. There's a handy head-up display, while the instruments are all digital and feature multiple different layouts. Chevrolet has employed slick graphics for the digital cluster, which are reminiscent of Lotus' Unreal Engine-based graphics, however they're let down by some slight pixelation. The infotainment system will be familiar to anybody who has been in a recent Chevrolet product, much like some of the physical switchgear. But the infotainment system works well, with an intuitive menu structure, a reliable wireless connection for smartphone mirroring, and attractive graphics, and like the carryover switchgear it works well. Would buyers really notice these items were used in lesser Chevrolets if it wasn't pointed out by motoring journalists? We will ding Chevy for the column stalks, however – these could be much nicer for this price point. Also, the cupholders are terrible as they lack a rubberised base and look cheap. You can also get a mobile phone stuck in the gap next to the lid when it's open, and it's a nuisance trying to retrieve it. The air-conditioning is excellent, which is to be expected for a company that once counted Frigidaire as one of its subsidiaries. Having the controls on that unusual 'bridge' seems goofy at first, but it's refreshing to have physical switchgear for all of this and it's easily accessible by both occupants. Alas, this design cue is going away with a coming MY26 upgrade. Storage isn't exactly abundant in the cabin, though you do get a centre console bin. There are two luggage compartments, one behind the engine and one up front. The one in the rear can fit an overnight bag or two, and you can squeeze a small duffel into the front compartment. The Z06 can be had only as a coupe in Australia, though it has a removable roof panel. Pull two levers and it pops off easily, and if you manoeuvre it correctly it can fit in the rear luggage compartment. If you look behind yourself, you can admire the engine, proudly displayed under a glass cover. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool The Z06 may be the priciest Corvette in Australia, but it's not the quickest from 0-100km/h. The E-Ray beats it to the century by just one tenth of a second. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool Let's address the elephant in the drive first: the sound. Australia uses the same exhaust setup as Europe, which sees the centre-mounted outlets replaced with four outlets, two on each side at the rear. Not only does this make the Z06 look more like the cheaper Stingray and E-Ray, it means it doesn't sound as good as either of those cheaper variants. We parked a Z06 next to a E-Ray for a rev test – in the interests of science, of course – and it was the hybrid that sounded better. The Z06 also has a rev-limiter, preventing it from being revved beyond 3000rpm when stationary. If you want to show off to your friends how your Z06 sounds, then, you're going to be disappointed. Mind you, it doesn't sound bad… it just doesn't sound as good as a supercar at this price ought to. Once you're on the move, the Z06 has a distinctive sound of its own. It has a lovely metallic growl when you punch it, though it has a tendency to drone. Settled into a cruise with the engine revving at around 2000rpm, there's this omnipresent clatter of sorts. It's a less common type of V8 with a less common type of noise, and you may or may not like it. At least noise suppression in the cabin is good, allowing you to easily carry on a conversation even with the engine literally right behind you. And what a delight it is to look behind you and see that big V8 proudly on display. You may or may not like the sound, but you'll find it much harder to fault how this engine feels. For starters, it's bloody quick. You gather pace rapidly, and this is a V8 that loves to be revved. The eight-speed dual-clutch automatic transmission handles the grunt of the 5.5-litre V8 terrifically. At low speeds, it feels more like a traditional automatic, and in Touring and Weather drive modes the throttle is still progressive and isn't dulled. As you build up revs, the Z06 starts to pick up the pace and moves through the gears with ease. Shifts are rapid, and it doesn't hold onto gears annoyingly long, even in Sport mode where they're more pronounced. The current gear helpfully appears in the instrument cluster, and I never felt the need to use those gorgeous carbon-fibre paddle shifters. Naturally, in Sport mode shifts feel more pronounced. Drive modes are selectable via a rotary dial on the centre console. Even more intuitive to use is the Z button on the steering wheel, which puts the steering, suspension, engine, engine sound, transmission and brakes in their most aggressive settings. There's also a customisable My Mode, allowing you to toggle your preferred settings for steering, suspension, engine sound and brake feel. I configured it to have the suspension in the softest setting, the steering to the intermediate setting, and engine noise to the loudest. The steering is terrific in terms of weighting and feel, and the Z06 has a pointy nose with small inputs leading to direct movements. Even in its intermediate weight setting, the Z06's steering doesn't feel overly heavy. The shape of the wheel and its slick carbon-fibre parts discourage you from driving with your hands at 10 and 2, so you'll have to put them at 9 and 3 where they belong. The Z06 handles like it's on rails, feeling perfectly poised in corners. Oh how I wish I could have taken this to the track… The tyres have an abundance of grip, and even in the wet there's still a solid connection with the road. The carbon-ceramic brakes on our tester also work wonderfully, without feeling ridiculously grabby in regular driving. You might think the Z06, looking the way it does, will feel too extreme for the daily commute. You'd be wrong. Okay, I found it a bit stressful to drive, but that was almost entirely due to all that fragile-looking carbon-fibre on the exterior. There is thankfully a nose lift system to prevent you from tearing up the bumper on your driveway, but you'll still want to be careful in the Z06. You can adjust the firmness of the suspension, and even in Sport mode it's taut but comfortable. Visibility out of the Z06 is awful, so what a relief Chevrolet included a digital rear-view mirror and blind-spot monitoring. The Z06 has a reversing camera and two front cameras, which it stitches together for an overhead view. But there's no traditional surround-view camera. Also missing from the features list are rain-sensing wipers, which is a strange omission. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool The Z06 sits atop the local Corvette range. 2025 Chevrolet Corvette Z06 equipment highlights: There's also a huge options list, and besides those mentioned earlier you can also specify your Z06 with various different wheels, stripes, and brake caliper and seatbelt colours, as well as a transparent roof. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool The Chevrolet Corvette hasn't been assessed by ANCAP or Euro NCAP. Standard safety equipment includes: There's also a digital rear-view mirror which, trust us, in a car with blind spots like this is most definitely a safety feature. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool The Corvette's aftersales offering isn't spectacular. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool Given the price premium of not only the Z06 over other Corvettes, but also this loaded Z06 over the regular Z06, you'd want to be taking this to the track. There's no question this has a unique feel relative to the cheaper Stingray and E-Ray, from the distinctive engine note to the way power is delivered. Then there are the enhancements that come with the Z07 package, which help make the 'Vette even more of a track weapon. But the Z06 carries a premium of over $60,000 over an E-Ray and over $130,000 more than a Stingray, and that's before you take into account options and on-road costs. Is this the best Corvette for track work? In the absence of the ZR1 in Australia, we'd argue yes. And the Z06, despite its significant impost, is still cheaper than a comparable supercar with a bull or prancing horse badge. You just need to decide how much that greater track focus over a Stingray is worth, and if that figure is more or less than $134,000. And if you are happy to pay Z06 money, we reckon a new exhaust should be your next purchase. Regardless, the Corvette is playing in the big league now, and this is a compelling American alternative to Europe's finest. Interested in buying a Chevrolet Corvette? Let CarExpert find you the best deal hereMORE: Everything Chevrolet Corvette Content originally sourced from: Corvette Pros Chevrolet Corvette Cons What a tease. I got the keys to this Chevrolet Corvette Z06 – complete with the Z07 Performance Package – one unrelentingly rainy week, one in which I had no track time scheduled. So here I was in this wild-looking, track-ready supercar, and I couldn't unleash its full potential. It was like having a bag full of tools and no DIY project. But hey, even if you did plan on buying and tracking Chevy's new flat-plane crank V8-powered Z06, that's theoretically only going to account for a small portion of your overall driving. For track impressions, you can check out James Wong's review. So what's the Z06 like to live with? That I can tell you! First thing you'll need to know is this car is an introvert's nightmare. I don't think I've ever driven a car that has attracted more attention, with the already aggressively styled Z06 enhanced further by the Z07 Performance Package. Our tester wore carbon-fibre ground effects and dive planes, plus an enormous rear wing. The result? Kids jumping up and down waving. People sticking their mobile phones out of car windows filming. Hell, someone even followed me down a street and pulled over as I was parking and asked to take pictures of it. The Z06 looks absolutely wild, and with the current C8 moving the engine from up front to midship, it has proportions more closely resembling much pricier Ferrari and Lamborghini supercars. It's the first Corvette with a double overhead-cam, flat-plane crank V8, and slots in above the pushrod V8-powered Stingray and the electrified E-Ray, the latter of which uniquely features a hybrid system and all-wheel drive. Missing from our shores thus far is the ZR1, which takes this new 5.5-litre V8 and bolts on a pair of turbochargers, or the recently revealed ZR1X that combines this engine with an AWD hybrid system like the E-Ray's. If there was ever any question before that the Corvette was a supercar, that seems to have been well and truly answered with the C8. And it's the only American supercar, now that the Dodge Viper is gone and the Ford GT has died again. The way the light bounces off the spoiler at night might bring to mind the '59 'batwing' Chevys, but this is a bona-fide Ferrari competitor. And yet, it's also surprisingly liveable. The Z06 is, thus far, the priciest member of the local Corvette lineup. It looks like a bargain, especially considering the cheapest Ferrari is a $500k-plus proposition. But our tester had a raft of pricey options, including: That's close to $80,000 in options. We imagine plenty of Ferrari and Lamborghini buyers drop that much (or more) in options, but it's surprising to see just how long the options list is on a Corvette – and how much opportunity you have to really personalise your sports car. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool Let's address the elephant in the cabin. Chevrolet recently revealed an update for the Corvette that makes some significant changes to its interior, including the removal of the distinctive row of buttons on the side of the centre console that separates the passenger's side of the cabin. Other changes include a larger touchscreen and a rejigged centre console. Therefore, a lot of the gripes we have with the outgoing C8's cabin will soon be addressed. I'm personally a bit sad to see the wacky button bridge go, though. What won't change with the update is the basic layout, and that's a good thing. The design is striking, with a very driver-focused cockpit that sees the touchscreen angled towards the driver. Getting in is a bit tough but once you're in it's comfortable, even for my lanky 6'3'' nephew in the passenger seat. The seats are heated and ventilated and prove grippy and supportive, ideal for a spirited blast without sacrificing day-to-day comfort. Your passenger may be shocked to find there's no grab handle, however. The driver sits behind a squared-off, chunky steering wheel with carbon-fibre trim, which can also be found in various places throughout the cabin, including the centre console, and it's applied tastefully. Set these pieces aside, and essentially every surface has been given the appearance of being leather-wrapped, with prominent stitching. This is deceptive, however. There's soft-touch trim on the doors and the sides of the centre console, where we'd argue this is crucial. But there's a lot of hard plastic too, including the hood over the instrument cluster. At circa-$190,000 for the base Stingray, I could almost let this slide, but at the circa-$330,000 price point of the Z06 it's disappointing. At least all the trim, whether hard or soft, looks uniform, though we did observe some janky stitching on one side of the centre console. There's a handy head-up display, while the instruments are all digital and feature multiple different layouts. Chevrolet has employed slick graphics for the digital cluster, which are reminiscent of Lotus' Unreal Engine-based graphics, however they're let down by some slight pixelation. The infotainment system will be familiar to anybody who has been in a recent Chevrolet product, much like some of the physical switchgear. But the infotainment system works well, with an intuitive menu structure, a reliable wireless connection for smartphone mirroring, and attractive graphics, and like the carryover switchgear it works well. Would buyers really notice these items were used in lesser Chevrolets if it wasn't pointed out by motoring journalists? We will ding Chevy for the column stalks, however – these could be much nicer for this price point. Also, the cupholders are terrible as they lack a rubberised base and look cheap. You can also get a mobile phone stuck in the gap next to the lid when it's open, and it's a nuisance trying to retrieve it. The air-conditioning is excellent, which is to be expected for a company that once counted Frigidaire as one of its subsidiaries. Having the controls on that unusual 'bridge' seems goofy at first, but it's refreshing to have physical switchgear for all of this and it's easily accessible by both occupants. Alas, this design cue is going away with a coming MY26 upgrade. Storage isn't exactly abundant in the cabin, though you do get a centre console bin. There are two luggage compartments, one behind the engine and one up front. The one in the rear can fit an overnight bag or two, and you can squeeze a small duffel into the front compartment. The Z06 can be had only as a coupe in Australia, though it has a removable roof panel. Pull two levers and it pops off easily, and if you manoeuvre it correctly it can fit in the rear luggage compartment. If you look behind yourself, you can admire the engine, proudly displayed under a glass cover. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool The Z06 may be the priciest Corvette in Australia, but it's not the quickest from 0-100km/h. The E-Ray beats it to the century by just one tenth of a second. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool Let's address the elephant in the drive first: the sound. Australia uses the same exhaust setup as Europe, which sees the centre-mounted outlets replaced with four outlets, two on each side at the rear. Not only does this make the Z06 look more like the cheaper Stingray and E-Ray, it means it doesn't sound as good as either of those cheaper variants. We parked a Z06 next to a E-Ray for a rev test – in the interests of science, of course – and it was the hybrid that sounded better. The Z06 also has a rev-limiter, preventing it from being revved beyond 3000rpm when stationary. If you want to show off to your friends how your Z06 sounds, then, you're going to be disappointed. Mind you, it doesn't sound bad… it just doesn't sound as good as a supercar at this price ought to. Once you're on the move, the Z06 has a distinctive sound of its own. It has a lovely metallic growl when you punch it, though it has a tendency to drone. Settled into a cruise with the engine revving at around 2000rpm, there's this omnipresent clatter of sorts. It's a less common type of V8 with a less common type of noise, and you may or may not like it. At least noise suppression in the cabin is good, allowing you to easily carry on a conversation even with the engine literally right behind you. And what a delight it is to look behind you and see that big V8 proudly on display. You may or may not like the sound, but you'll find it much harder to fault how this engine feels. For starters, it's bloody quick. You gather pace rapidly, and this is a V8 that loves to be revved. The eight-speed dual-clutch automatic transmission handles the grunt of the 5.5-litre V8 terrifically. At low speeds, it feels more like a traditional automatic, and in Touring and Weather drive modes the throttle is still progressive and isn't dulled. As you build up revs, the Z06 starts to pick up the pace and moves through the gears with ease. Shifts are rapid, and it doesn't hold onto gears annoyingly long, even in Sport mode where they're more pronounced. The current gear helpfully appears in the instrument cluster, and I never felt the need to use those gorgeous carbon-fibre paddle shifters. Naturally, in Sport mode shifts feel more pronounced. Drive modes are selectable via a rotary dial on the centre console. Even more intuitive to use is the Z button on the steering wheel, which puts the steering, suspension, engine, engine sound, transmission and brakes in their most aggressive settings. There's also a customisable My Mode, allowing you to toggle your preferred settings for steering, suspension, engine sound and brake feel. I configured it to have the suspension in the softest setting, the steering to the intermediate setting, and engine noise to the loudest. The steering is terrific in terms of weighting and feel, and the Z06 has a pointy nose with small inputs leading to direct movements. Even in its intermediate weight setting, the Z06's steering doesn't feel overly heavy. The shape of the wheel and its slick carbon-fibre parts discourage you from driving with your hands at 10 and 2, so you'll have to put them at 9 and 3 where they belong. The Z06 handles like it's on rails, feeling perfectly poised in corners. Oh how I wish I could have taken this to the track… The tyres have an abundance of grip, and even in the wet there's still a solid connection with the road. The carbon-ceramic brakes on our tester also work wonderfully, without feeling ridiculously grabby in regular driving. You might think the Z06, looking the way it does, will feel too extreme for the daily commute. You'd be wrong. Okay, I found it a bit stressful to drive, but that was almost entirely due to all that fragile-looking carbon-fibre on the exterior. There is thankfully a nose lift system to prevent you from tearing up the bumper on your driveway, but you'll still want to be careful in the Z06. You can adjust the firmness of the suspension, and even in Sport mode it's taut but comfortable. Visibility out of the Z06 is awful, so what a relief Chevrolet included a digital rear-view mirror and blind-spot monitoring. The Z06 has a reversing camera and two front cameras, which it stitches together for an overhead view. But there's no traditional surround-view camera. Also missing from the features list are rain-sensing wipers, which is a strange omission. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool The Z06 sits atop the local Corvette range. 2025 Chevrolet Corvette Z06 equipment highlights: There's also a huge options list, and besides those mentioned earlier you can also specify your Z06 with various different wheels, stripes, and brake caliper and seatbelt colours, as well as a transparent roof. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool The Chevrolet Corvette hasn't been assessed by ANCAP or Euro NCAP. Standard safety equipment includes: There's also a digital rear-view mirror which, trust us, in a car with blind spots like this is most definitely a safety feature. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool The Corvette's aftersales offering isn't spectacular. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool Given the price premium of not only the Z06 over other Corvettes, but also this loaded Z06 over the regular Z06, you'd want to be taking this to the track. There's no question this has a unique feel relative to the cheaper Stingray and E-Ray, from the distinctive engine note to the way power is delivered. Then there are the enhancements that come with the Z07 package, which help make the 'Vette even more of a track weapon. But the Z06 carries a premium of over $60,000 over an E-Ray and over $130,000 more than a Stingray, and that's before you take into account options and on-road costs. Is this the best Corvette for track work? In the absence of the ZR1 in Australia, we'd argue yes. And the Z06, despite its significant impost, is still cheaper than a comparable supercar with a bull or prancing horse badge. You just need to decide how much that greater track focus over a Stingray is worth, and if that figure is more or less than $134,000. And if you are happy to pay Z06 money, we reckon a new exhaust should be your next purchase. Regardless, the Corvette is playing in the big league now, and this is a compelling American alternative to Europe's finest. Interested in buying a Chevrolet Corvette? Let CarExpert find you the best deal hereMORE: Everything Chevrolet Corvette Content originally sourced from: Corvette Pros Chevrolet Corvette Cons What a tease. I got the keys to this Chevrolet Corvette Z06 – complete with the Z07 Performance Package – one unrelentingly rainy week, one in which I had no track time scheduled. So here I was in this wild-looking, track-ready supercar, and I couldn't unleash its full potential. It was like having a bag full of tools and no DIY project. But hey, even if you did plan on buying and tracking Chevy's new flat-plane crank V8-powered Z06, that's theoretically only going to account for a small portion of your overall driving. For track impressions, you can check out James Wong's review. So what's the Z06 like to live with? That I can tell you! First thing you'll need to know is this car is an introvert's nightmare. I don't think I've ever driven a car that has attracted more attention, with the already aggressively styled Z06 enhanced further by the Z07 Performance Package. Our tester wore carbon-fibre ground effects and dive planes, plus an enormous rear wing. The result? Kids jumping up and down waving. People sticking their mobile phones out of car windows filming. Hell, someone even followed me down a street and pulled over as I was parking and asked to take pictures of it. The Z06 looks absolutely wild, and with the current C8 moving the engine from up front to midship, it has proportions more closely resembling much pricier Ferrari and Lamborghini supercars. It's the first Corvette with a double overhead-cam, flat-plane crank V8, and slots in above the pushrod V8-powered Stingray and the electrified E-Ray, the latter of which uniquely features a hybrid system and all-wheel drive. Missing from our shores thus far is the ZR1, which takes this new 5.5-litre V8 and bolts on a pair of turbochargers, or the recently revealed ZR1X that combines this engine with an AWD hybrid system like the E-Ray's. If there was ever any question before that the Corvette was a supercar, that seems to have been well and truly answered with the C8. And it's the only American supercar, now that the Dodge Viper is gone and the Ford GT has died again. The way the light bounces off the spoiler at night might bring to mind the '59 'batwing' Chevys, but this is a bona-fide Ferrari competitor. And yet, it's also surprisingly liveable. The Z06 is, thus far, the priciest member of the local Corvette lineup. It looks like a bargain, especially considering the cheapest Ferrari is a $500k-plus proposition. But our tester had a raft of pricey options, including: That's close to $80,000 in options. We imagine plenty of Ferrari and Lamborghini buyers drop that much (or more) in options, but it's surprising to see just how long the options list is on a Corvette – and how much opportunity you have to really personalise your sports car. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool Let's address the elephant in the cabin. Chevrolet recently revealed an update for the Corvette that makes some significant changes to its interior, including the removal of the distinctive row of buttons on the side of the centre console that separates the passenger's side of the cabin. Other changes include a larger touchscreen and a rejigged centre console. Therefore, a lot of the gripes we have with the outgoing C8's cabin will soon be addressed. I'm personally a bit sad to see the wacky button bridge go, though. What won't change with the update is the basic layout, and that's a good thing. The design is striking, with a very driver-focused cockpit that sees the touchscreen angled towards the driver. Getting in is a bit tough but once you're in it's comfortable, even for my lanky 6'3'' nephew in the passenger seat. The seats are heated and ventilated and prove grippy and supportive, ideal for a spirited blast without sacrificing day-to-day comfort. Your passenger may be shocked to find there's no grab handle, however. The driver sits behind a squared-off, chunky steering wheel with carbon-fibre trim, which can also be found in various places throughout the cabin, including the centre console, and it's applied tastefully. Set these pieces aside, and essentially every surface has been given the appearance of being leather-wrapped, with prominent stitching. This is deceptive, however. There's soft-touch trim on the doors and the sides of the centre console, where we'd argue this is crucial. But there's a lot of hard plastic too, including the hood over the instrument cluster. At circa-$190,000 for the base Stingray, I could almost let this slide, but at the circa-$330,000 price point of the Z06 it's disappointing. At least all the trim, whether hard or soft, looks uniform, though we did observe some janky stitching on one side of the centre console. There's a handy head-up display, while the instruments are all digital and feature multiple different layouts. Chevrolet has employed slick graphics for the digital cluster, which are reminiscent of Lotus' Unreal Engine-based graphics, however they're let down by some slight pixelation. The infotainment system will be familiar to anybody who has been in a recent Chevrolet product, much like some of the physical switchgear. But the infotainment system works well, with an intuitive menu structure, a reliable wireless connection for smartphone mirroring, and attractive graphics, and like the carryover switchgear it works well. Would buyers really notice these items were used in lesser Chevrolets if it wasn't pointed out by motoring journalists? We will ding Chevy for the column stalks, however – these could be much nicer for this price point. Also, the cupholders are terrible as they lack a rubberised base and look cheap. You can also get a mobile phone stuck in the gap next to the lid when it's open, and it's a nuisance trying to retrieve it. The air-conditioning is excellent, which is to be expected for a company that once counted Frigidaire as one of its subsidiaries. Having the controls on that unusual 'bridge' seems goofy at first, but it's refreshing to have physical switchgear for all of this and it's easily accessible by both occupants. Alas, this design cue is going away with a coming MY26 upgrade. Storage isn't exactly abundant in the cabin, though you do get a centre console bin. There are two luggage compartments, one behind the engine and one up front. The one in the rear can fit an overnight bag or two, and you can squeeze a small duffel into the front compartment. The Z06 can be had only as a coupe in Australia, though it has a removable roof panel. Pull two levers and it pops off easily, and if you manoeuvre it correctly it can fit in the rear luggage compartment. If you look behind yourself, you can admire the engine, proudly displayed under a glass cover. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool The Z06 may be the priciest Corvette in Australia, but it's not the quickest from 0-100km/h. The E-Ray beats it to the century by just one tenth of a second. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool Let's address the elephant in the drive first: the sound. Australia uses the same exhaust setup as Europe, which sees the centre-mounted outlets replaced with four outlets, two on each side at the rear. Not only does this make the Z06 look more like the cheaper Stingray and E-Ray, it means it doesn't sound as good as either of those cheaper variants. We parked a Z06 next to a E-Ray for a rev test – in the interests of science, of course – and it was the hybrid that sounded better. The Z06 also has a rev-limiter, preventing it from being revved beyond 3000rpm when stationary. If you want to show off to your friends how your Z06 sounds, then, you're going to be disappointed. Mind you, it doesn't sound bad… it just doesn't sound as good as a supercar at this price ought to. Once you're on the move, the Z06 has a distinctive sound of its own. It has a lovely metallic growl when you punch it, though it has a tendency to drone. Settled into a cruise with the engine revving at around 2000rpm, there's this omnipresent clatter of sorts. It's a less common type of V8 with a less common type of noise, and you may or may not like it. At least noise suppression in the cabin is good, allowing you to easily carry on a conversation even with the engine literally right behind you. And what a delight it is to look behind you and see that big V8 proudly on display. You may or may not like the sound, but you'll find it much harder to fault how this engine feels. For starters, it's bloody quick. You gather pace rapidly, and this is a V8 that loves to be revved. The eight-speed dual-clutch automatic transmission handles the grunt of the 5.5-litre V8 terrifically. At low speeds, it feels more like a traditional automatic, and in Touring and Weather drive modes the throttle is still progressive and isn't dulled. As you build up revs, the Z06 starts to pick up the pace and moves through the gears with ease. Shifts are rapid, and it doesn't hold onto gears annoyingly long, even in Sport mode where they're more pronounced. The current gear helpfully appears in the instrument cluster, and I never felt the need to use those gorgeous carbon-fibre paddle shifters. Naturally, in Sport mode shifts feel more pronounced. Drive modes are selectable via a rotary dial on the centre console. Even more intuitive to use is the Z button on the steering wheel, which puts the steering, suspension, engine, engine sound, transmission and brakes in their most aggressive settings. There's also a customisable My Mode, allowing you to toggle your preferred settings for steering, suspension, engine sound and brake feel. I configured it to have the suspension in the softest setting, the steering to the intermediate setting, and engine noise to the loudest. The steering is terrific in terms of weighting and feel, and the Z06 has a pointy nose with small inputs leading to direct movements. Even in its intermediate weight setting, the Z06's steering doesn't feel overly heavy. The shape of the wheel and its slick carbon-fibre parts discourage you from driving with your hands at 10 and 2, so you'll have to put them at 9 and 3 where they belong. The Z06 handles like it's on rails, feeling perfectly poised in corners. Oh how I wish I could have taken this to the track… The tyres have an abundance of grip, and even in the wet there's still a solid connection with the road. The carbon-ceramic brakes on our tester also work wonderfully, without feeling ridiculously grabby in regular driving. You might think the Z06, looking the way it does, will feel too extreme for the daily commute. You'd be wrong. Okay, I found it a bit stressful to drive, but that was almost entirely due to all that fragile-looking carbon-fibre on the exterior. There is thankfully a nose lift system to prevent you from tearing up the bumper on your driveway, but you'll still want to be careful in the Z06. You can adjust the firmness of the suspension, and even in Sport mode it's taut but comfortable. Visibility out of the Z06 is awful, so what a relief Chevrolet included a digital rear-view mirror and blind-spot monitoring. The Z06 has a reversing camera and two front cameras, which it stitches together for an overhead view. But there's no traditional surround-view camera. Also missing from the features list are rain-sensing wipers, which is a strange omission. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool The Z06 sits atop the local Corvette range. 2025 Chevrolet Corvette Z06 equipment highlights: There's also a huge options list, and besides those mentioned earlier you can also specify your Z06 with various different wheels, stripes, and brake caliper and seatbelt colours, as well as a transparent roof. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool The Chevrolet Corvette hasn't been assessed by ANCAP or Euro NCAP. Standard safety equipment includes: There's also a digital rear-view mirror which, trust us, in a car with blind spots like this is most definitely a safety feature. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool The Corvette's aftersales offering isn't spectacular. To see how the Chevrolet Corvette lines up against the competition, check out our comparison tool Given the price premium of not only the Z06 over other Corvettes, but also this loaded Z06 over the regular Z06, you'd want to be taking this to the track. There's no question this has a unique feel relative to the cheaper Stingray and E-Ray, from the distinctive engine note to the way power is delivered. Then there are the enhancements that come with the Z07 package, which help make the 'Vette even more of a track weapon. But the Z06 carries a premium of over $60,000 over an E-Ray and over $130,000 more than a Stingray, and that's before you take into account options and on-road costs. Is this the best Corvette for track work? In the absence of the ZR1 in Australia, we'd argue yes. And the Z06, despite its significant impost, is still cheaper than a comparable supercar with a bull or prancing horse badge. You just need to decide how much that greater track focus over a Stingray is worth, and if that figure is more or less than $134,000. And if you are happy to pay Z06 money, we reckon a new exhaust should be your next purchase. Regardless, the Corvette is playing in the big league now, and this is a compelling American alternative to Europe's finest. Interested in buying a Chevrolet Corvette? Let CarExpert find you the best deal hereMORE: Everything Chevrolet Corvette Content originally sourced from:
Sydney Morning Herald
2 days ago
- Sydney Morning Herald
Ferrari is looking less like a carmaker and more like Hermes
Vigna's background as a theoretical physicist is apparent as he illustrates his thinking with diagrams sketched on pieces of paper like a professor at a blackboard. His contention is not just that Ferrari is a luxury-goods company, comparable in some ways with France's Hermes, the most valuable firm in that industry – but that it is a unique one. Loading The maker of high-end sports cars has succeeded in boosting sales while adhering to the maxim of Enzo Ferrari, who founded the firm in 1947, that it should sell 'one less car than the market demands'. Despite its expansion, Ferrari insists that it is as exclusive as ever, having grown fastest in places such as the Middle East where sales were once small. Recently, it has also raised prices at a far faster pace than in the past. As Stephen Reitman of Bernstein, a broker, points out, the price of new models used to be 3-5 per cent higher than those they superseded, whereas the new 12Cilindri is a whopping 30 per cent more than the 812 Superfast it replaces. That is also true for Ferrari's hugely profitable flagship cars, which arrive at irregular intervals, justified by improved technology learnt from racing. Deliveries of the latest, the F80, which costs €3.6 million, will begin soon, 12 years after the launch of the LaFerrari, which set owners back a mere €1 million or so. Total revenue from the F80 will exceed €2.3 billion, says Jefferies, a bank. To plug the gap between launches of these money spinners, Ferrari has started to make special limited-edition cars, such as the Daytona SP3 unveiled in 2021 (price: €2 million), which are high-margin styling exercises underpinned by existing models. Ferrari also now offers far more opportunities for personalisation, from custom paint-jobs to added carbon fibre and lavish interiors. These can add 20 per cent to the price of its cars, which Barclays, a bank, reckons will set back buyers an average of more than €500,000 next year. The firm is able to charge such eye-watering prices thanks to the devotion of its loyal fans. Some 80 per cent of customers are already owners. Many make a pilgrimage to the factory; some, overcome by emotion, are said to shed a tear. Judging the mood of its customers by keeping in close contact with about 180 dealerships worldwide allows Ferrari to draw its most avid collectors into an inner circle. Tariff-induced price rises have made no difference to orders from America. Sales of the F80 (of which Ferrari is making just 799) were three times oversubscribed. Getting chosen for one required buying several other Ferraris and acting as an ambassador, including turning up at car shows organised by the firm (and paying for the privilege). Even that was not a guarantee. Customers accept that Ferrari cannot serve everyone, explains Enrico Galliera, its marketing chief, dubbed 'Mr No' for frequently rejecting requests from would-be buyers. They may fear that any sign of disgruntlement will mean being bumped down future waiting lists. All this sounds similar to how ultra-luxe fashion brands such as Hermes operate. Yet, Vigna reckons Ferrari has even more going for it than the maker of pricey leather goods. His firm combines heritage with cutting-edge technology. It takes part in racing events such as the British Grand Prix on July 6, which are central to the brand's marketing. (Hermes organises a show-jumping tournament – classy, but less adrenaline-fuelled.) Chinese consumers, who have lately tightened their purse strings, account for just 8 per cent of Ferrari's sales, compared with as much as two-fifths at Hermes. Loading And Ferrari relies almost exclusively on the very rich, who are more insulated from downturns. A good chunk of revenue at Hermes comes from cheaper goods such as scarves, ties and perfume, much of which are sold to consumers who are wealthy, but not outrageously so. What could go wrong for the car industry's ritzy star? Some say that its price rises are already too aggressive. Further increases in production may eventually threaten the brand's perceived exclusivity. Revenue from personalisation has its limits. Ferrari also has one thing in common with more mundane car firms: the transition to battery power. The Elettrica, its first foray into that segment, will hit the road next year. The company recently doubled the size of its factory in Maranello, which will give it flexibility to make the electric vehicle without producing fewer of its current models. Yet other electric super-cars have been met with indifference. If Ferrari's fails to impress, the carmaker's pristine image could be damaged. Worryingly, on June 17, reports emerged that it would delay a second electric model by two years, to 2028. Vigna still has to solve his trickiest problem yet.
The Age
2 days ago
- The Age
Ferrari is looking less like a carmaker and more like Hermes
Vigna's background as a theoretical physicist is apparent as he illustrates his thinking with diagrams sketched on pieces of paper like a professor at a blackboard. His contention is not just that Ferrari is a luxury-goods company, comparable in some ways with France's Hermes, the most valuable firm in that industry – but that it is a unique one. Loading The maker of high-end sports cars has succeeded in boosting sales while adhering to the maxim of Enzo Ferrari, who founded the firm in 1947, that it should sell 'one less car than the market demands'. Despite its expansion, Ferrari insists that it is as exclusive as ever, having grown fastest in places such as the Middle East where sales were once small. Recently, it has also raised prices at a far faster pace than in the past. As Stephen Reitman of Bernstein, a broker, points out, the price of new models used to be 3-5 per cent higher than those they superseded, whereas the new 12Cilindri is a whopping 30 per cent more than the 812 Superfast it replaces. That is also true for Ferrari's hugely profitable flagship cars, which arrive at irregular intervals, justified by improved technology learnt from racing. Deliveries of the latest, the F80, which costs €3.6 million, will begin soon, 12 years after the launch of the LaFerrari, which set owners back a mere €1 million or so. Total revenue from the F80 will exceed €2.3 billion, says Jefferies, a bank. To plug the gap between launches of these money spinners, Ferrari has started to make special limited-edition cars, such as the Daytona SP3 unveiled in 2021 (price: €2 million), which are high-margin styling exercises underpinned by existing models. Ferrari also now offers far more opportunities for personalisation, from custom paint-jobs to added carbon fibre and lavish interiors. These can add 20 per cent to the price of its cars, which Barclays, a bank, reckons will set back buyers an average of more than €500,000 next year. The firm is able to charge such eye-watering prices thanks to the devotion of its loyal fans. Some 80 per cent of customers are already owners. Many make a pilgrimage to the factory; some, overcome by emotion, are said to shed a tear. Judging the mood of its customers by keeping in close contact with about 180 dealerships worldwide allows Ferrari to draw its most avid collectors into an inner circle. Tariff-induced price rises have made no difference to orders from America. Sales of the F80 (of which Ferrari is making just 799) were three times oversubscribed. Getting chosen for one required buying several other Ferraris and acting as an ambassador, including turning up at car shows organised by the firm (and paying for the privilege). Even that was not a guarantee. Customers accept that Ferrari cannot serve everyone, explains Enrico Galliera, its marketing chief, dubbed 'Mr No' for frequently rejecting requests from would-be buyers. They may fear that any sign of disgruntlement will mean being bumped down future waiting lists. All this sounds similar to how ultra-luxe fashion brands such as Hermes operate. Yet, Vigna reckons Ferrari has even more going for it than the maker of pricey leather goods. His firm combines heritage with cutting-edge technology. It takes part in racing events such as the British Grand Prix on July 6, which are central to the brand's marketing. (Hermes organises a show-jumping tournament – classy, but less adrenaline-fuelled.) Chinese consumers, who have lately tightened their purse strings, account for just 8 per cent of Ferrari's sales, compared with as much as two-fifths at Hermes. Loading And Ferrari relies almost exclusively on the very rich, who are more insulated from downturns. A good chunk of revenue at Hermes comes from cheaper goods such as scarves, ties and perfume, much of which are sold to consumers who are wealthy, but not outrageously so. What could go wrong for the car industry's ritzy star? Some say that its price rises are already too aggressive. Further increases in production may eventually threaten the brand's perceived exclusivity. Revenue from personalisation has its limits. Ferrari also has one thing in common with more mundane car firms: the transition to battery power. The Elettrica, its first foray into that segment, will hit the road next year. The company recently doubled the size of its factory in Maranello, which will give it flexibility to make the electric vehicle without producing fewer of its current models. Yet other electric super-cars have been met with indifference. If Ferrari's fails to impress, the carmaker's pristine image could be damaged. Worryingly, on June 17, reports emerged that it would delay a second electric model by two years, to 2028. Vigna still has to solve his trickiest problem yet.
