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Ferrari is looking less like a carmaker and more like Hermes
Ferrari is looking less like a carmaker and more like Hermes

Sydney Morning Herald

time5 days ago

  • Automotive
  • 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Reitman of Bernstein, a broker, points out, the price of new models used to be 3-5 per cent higher than those they superseded, whereas the new 12Cilindri is a whopping 30 per cent more than the 812 Superfast it replaces.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.

Ferrari is looking less like a carmaker and more like Hermes
Ferrari is looking less like a carmaker and more like Hermes

The Age

time5 days ago

  • Automotive
  • 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.

Car industry's ritzy star Ferrari is looking less like a carmaker and more like Hermes
Car industry's ritzy star Ferrari is looking less like a carmaker and more like Hermes

The Age

time5 days ago

  • Automotive
  • The Age

Car industry's ritzy star 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. Benedetto Vigna, chief executive officer of Ferrari. Credit: Bloomberg 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. Workers on the production line at the new Ferrari NV E-building factory in Maranello, Italy. Credit: Bloomberg 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. The entrance to the Ferrari factory in Maranello, Italy. Credit: Bloomberg 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. Shoppers outside the Hermes International luxury clothing boutique on Avenue George V in central Paris, France. Credit: Bloomberg 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 Economist

Ferrari F80 Review 2025
Ferrari F80 Review 2025

Top Gear

time5 days ago

  • Automotive
  • Top Gear

Ferrari F80 Review 2025

The new ultimate Ferrari. The F80 follows 288 GTO, F40, F50, Enzo and LaFerrari. It marks 80 years of Ferrari being, well, the car everyone wants but also makes a statement for the here and now and for the company's future. Essentially, this is the best car Ferrari knows how to make in 2025 when silly little things like monetary constraints are put to one side. Moreover, it sets a new path for Ferrari's dynamic fingerprint and design language. Production will be limited to 799 units. The relentless pursuit of what's next really defines Ferrari. For a company with such a rich history they rarely get caught looking wistfully towards their back catalogue for inspiration. Okay, so the 12Cilindri has a hint of Daytona in terms of design, but while the world pines for analogue and manual gearboxes, Ferrari just follow the path to ultimate performance. Which means a big, normally aspirated V12 just wouldn't be right for F80. Purists may wince but the 3.0-litre twin turbocharged V6 plus three electric motors is, strangely, much more closely aligned to the F80's mission statement. It's quite the motor in its own right, too. The 120-degree architecture with two e-turbochargers within the vee means the F163CF engine is extremely compact and can be mounted incredibly low in the chassis. It revs to 9,200rpm, those e-turbos (each featuring an electric motor between the turbine and the compressor housing) eliminate lag for proper normally-aspirated response times, yet its tiny capacity produces 888bhp all on its own. Supported by an electric motor affixed to the bottom of the engine, plus a further two electric motors for the front axle, the F80 can unleash 1,183bhp, get from 0-62mph in 2.15 seconds, 0-124mph in 5.75-seconds and vmax at 217mph. Well, sure. But don't forget the 288 GTO and F40 both had twin-turbo V8s and nobody gets too upset about that. Plus, the V6 allows such huge aero performance that Ferrari say the benefits far outweigh the less orchestral engine note. The F80 features a carbon tub with aluminium subframes and the engine and eight-speed dual-clutch box are titled 1.3 degrees to the centre line to allow the biggest diffuser possible. The venturi is 1.8-metres in length – as compared to just 60cm in LaFerrari – and the F80 can generate 1,050kg of downforce at 155mph. The F80 features inboard suspension with sophisticated Multimatic dampers that are absolutely crucial to the aero performance. The dampers each feature an electric motor and can actively apply force to the damper rod – helping to create the perfect ride height and eliminating the need for anti-roll bars. We've seen them before in the Purosangue but the F80 perhaps shows the full range of their potential. There's also active aero and the huge rear wing has 22-degrees of motion from high downforce mode to low drag. Interestingly, there's no way for the driver to manipulate this. You want the wing up to look cool? Drive faster. Fantastic tech, but where's the emotion? Present, correct and super-powered by the F80's quite startling capabilities and superbly honed touch points. The new CCM R Plus brakes are phenomenal and you'd never guess the system is juggling regen and friction discs. The steering – yes, even with the oblong steering wheel – is fantastic. So clean and alert but calm and painting a superb picture of what's going on at ground level. Oh, and the gearbox is next level. Forget the best PDK from Porsche – or, indeed, anybody else's – the F80 has the greatest paddle shift 'box ever fitted to a road car. It's like a full-on race 'box, but somehow it runs faster and cleaner, and because there's so much torque after every shift the acceleration feels like it's exponentially growing. As usual with Ferrari, the F80 is highly configurable. The manettino allows you to switch between Wet, Sport, Race, CT Off and ESC off, plus you can press the rotary switch to control the dampers. With the Multimatic system you can select Hard, medium and soft settings even in Race, CT Off and ESC off, which is a great touch. Forget the best PDK from Porsche... the F80 has the greatest paddle shift 'box ever fitted to a road car Opposite the manettino there's capacitive touch controls for the powertrain, too. The default is Hybrid mode, then Performance and finally Qualifying, which gives you everything the F80 can summon from its electric motors for one lap. There's also a Boost Optimisation function that allows you to plot a circuit and let the F80 work out where best to give you full deployment for the best lap time. Can it match the Valkyrie experience? Our stints at the fantastic Misano circuit reveal a very different character to Aston's spellbinding hypercar. In terms of raw acceleration it's a very close run thing, but the Ferrari can sustain its performance even in painfully hot conditions. It's also got more torque and seems more deliberately composed. The way you can drive deep into turns on the brakes is astounding and if the Aston can feel a little nervous in high-speed corners – exhibiting turn-in oversteer that creates immense agility but takes a bit of hanging onto – the F80 is just locked down and precise. You feel more inclined to take liberties on the way in and freer to unleash the powertrain on the way out. The steering is delicious. So responsive but eerily calm, too. And despite the extremely effective platform control – crucial for the aero performance – the F80 still delivers old school feel and feedback. Add in stunning braking abilities, superb low speed mechanical grip and secure high-speed manners where you can start to feel the downforce at work and you have an unbelievably effective track car that has a real endurance racer vibe. It feels totally at home on the track and so within itself that long stints would be a real treat. It feels more natural than the SF90, the first Ferrari to use a front e-axle, and although you can just occasionally sense the front wheels are driven, the steering stays pretty pure and the balance feels natural. Understeer can be induced in tight turns and the F80 feels slightly heavier than the Valkyrie, but for the most part it's got a really nice, neutral phase with a lovely tendency to just edge into oversteer on corner exit. What about on the road? Against expectations the F80 is at its absolute best on the road. On track it can feel just a shade prescriptive. Stunningly fast and efficient but not quite as exuberant as it could be. However, on the road suddenly the whole car comes to life. It feels properly adjustable and although the ride isn't as smooth as, say, a McLaren 750S or 296 GTB at lower speeds, the dampers find their range as you push harder and offer incredible control and a sort of invincible feeling. And the noise? It's superb. The F80 is extremely quiet on the outside, but when you're strapped into the red trimmed driver's seat there's a hard-edged V6 howl that sounds every bit as wild as nearly 300bhp-per-litre suggests, plus all sorts of Le Mans Hypercar accompaniments from the electric motors and turbochargers. It's layered, intense and shockingly enveloping. The 296 GTB sounds good at times but it feels tuned and slightly thin in tone. The F80 is deep, angry and has a might and authenticity about it that makes all that V12 lament seem a bit silly. The unbelievable gearbox is a star once again. The shift quality is magical but the thunderous upshift crack creates a drama all of its own. What's not to like? Not much. The interior balances motorsport intent with understated execution brilliantly and they've even reinstated buttons on the steering wheel to end the recent haptic nightmare. And, as we've said, the dynamics are superb. Perhaps the complexity of the powertrain does have its downsides. For example, it can't deploy endlessly at maximum effort, so just occasionally there isn't quite the acceleration you expect. On Misano the power would fade just a little once shifting into 5th, for example. Such is the speed of the steering that the paddles might be best served mounted to the back of the 'wheel now, rather than the steering column. The engine revs so quickly that an audible shift prompter would be great, too. Trying to anticipate a perfect upshift often results in a brief stutter of rev limiter as the V6 piles on revs so rapidly at the top end. But otherwise, it's pretty much all good news.

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