Insights & Analysis of Ferrari’s 2022 Results
I just posted up a new blog on Ferrari's 2022 Results:
https://karenable.com/ferraris-2022/
Thoughts on Ferrari's results?
Are they now unstoppable?
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Board: Ferrari
Language: English
Region: Worldwide
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Feb 19, 2023 4:27:05 PM
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996FourEss
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Feb 19, 2023 4:55:49 PM
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996FourEss
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Whoopsy
Re: Insights & Analysis of Ferrari’s 2022 Results
What do we think the right maximum volume number is for Ferrari in terms of exclusivity vs availability vs maximising volumes. Porsche got on the wrong side of this equation in the late 80s in the US when they had over pushed volumes and then got hit massively in the slowdown, to the point of almost getting bought by Mercedes….
Re: Insights & Analysis of Ferrari’s 2022 Results
McLaren was a risk to Ferrari, not anymore. They fucked it up the moment they pursued 'new sales' basically a decade ago. And they haven't recovered since.
12C was a GREAT competitor to Ferraris back then. It was innovative. Got me into buying one of the first in Canada and basically be their walking billboard here.
They lost that innovation immediately when they radically changed the styling to joker face 650. Putting new clothes on the car and call it 'new' and 'different'.
Up until recently, every McLaren was basically the same car, same chassis same wheelbase, same tub with some slight modifications to suits the need, same engine with different tunes, same gearbox even. Highlight of this failure was the P1, they had to hack job a hybrid system into it to compete with Ferrari and Porsche.
Because of the way they chase new car sales, they shafted their existing clients on retained value of their purchase. They were expecting the free money to keep buying their 'new' models to sustain their business case. That didn't happened, and it hurts their bottomline and got them to where they are right now financially, so bad that stye had to sell their own HQ building. That's embarrassing.
It doesn't have to be this way. Look at Lamborghini, each model CAN have a long and successful life, Huracan had many variants, but they all Huracans. Same with Gallardo before that. Even the Aventadors. And McLaren should have copied how Lamborghini did it for their special models that's based on the Aventador, McLaren marketing really fucked up their own business.
Heck, they could have looked at Porsche and do it that way also. 911s all started off as the same basic body in white, but through content and tuning, Porsche made a couple dozen variants out of the same chassis and each with distinct personality and target audience. Heck, Porsche basically made a completely different car in Cayman/Boxster from that chassis platform, and start a whole lot of variants for that.
McLaren can't even dream about the volume of cars moved like Ferrari, so they will never be able to afford the flexibility Ferrari can do with different chassis for different models. They could have gone the Lamborghini path and build up their volume to at least chase Lamborghini, but nope, that chance have past and gone.
Ferrari will stand alone. No one has the same brand power and loyalty. Lamborghini tried for like 60 years and still failed.
I had promised myself I am not buying another Ferrari after what I been though, but secretly, I am still eyeing which Ferrari I want to buy next. That's how strong the Ferrari pull is.
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Re: Insights & Analysis of Ferrari’s 2022 Results
GT-Boy:This really Ferrari's threat and competition. Most of their peer competitors will have had Full EVs for years before Ferrari puts their 1st EV on the street. They will be a generation (or 2) behind on EVs compared to their peers.
Your statements aren't accurate. Ferrari don't really have competitors. They have their own loyal customer base. They have tier own market segment basically.
There is no rush to do an EV for Ferrari. They are Ferrari after all. They will do one when the time comes. Just like SUVs.
EV might be the future, but hybrid is the immediate future and they have addressed that.
EVs aren't hard to develop, and generations don't really matter either, look at Tesla, they are a full generation behind everyone else yet they are still selling in great numbers. Ferrari already possessed all that's need to make one. Battery, checked, motors, checked, all they needs is to draw one up and slap the parts together. Their hybrid program gave them all they need to know about the software side too, most important bit is the regeneration side of things programming the blended braking (something Tesla still unable to do properly after all these years) and judging from the SF90, they are right there.
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Re: Insights & Analysis of Ferrari’s 2022 Results
Nick, while I agree that Ferrari doesn't have any competitors, I think you're mistakenly assuming that the Ferrari client base remains static. It won't. EV vehicles change impressions regarding style, power and convenience. As far as I am concerned, that is the real threat that Ferrari is facing along with mandatory government regulations which no longer exempt small volume manufacturers.
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The purpose of life is to enjoy the moment.
Re: Insights & Analysis of Ferrari’s 2022 Results
nberry:Nick, while I agree that Ferrari doesn't have any competitors, I think you're mistakenly assuming that the Ferrari client base remains static. It won't. EV vehicles change impressions regarding style, power and convenience. As far as I am concerned, that is the real threat that Ferrari is facing along with mandatory government regulations which no longer exempt small volume manufacturers.
Your thinking assumed Ferrari customers replaces their Ferraris with something else when they buy cars.
The normal, median, whatever one wants to call it, Ferrari clientele acquire ADDITIONAL cars. They don't really replaces their Ferraris with other stuff. Unlike other marques whose clients might jump around switching brands. There lies the difference.
The FF/Lusso is one prime example on how Ferrari do things. They see their clients have a need, winter driving, and their clients are buying other brands, so they make their own and then their clients buy Ferrari to replace the other brands offerings. Now it is the SUV Purosangue turn to do the same. and eventually the Ferrari EV will do exactly the same thing when the time comes.
Ferrari has a stable bread and butter customer base that other marques seriously wished they have the same. Ever now and then there will be a Ferrari product that attracts new first time buyers to Ferrari. Maybe those will stay, maybe those will be the one shot thing and jump around brands. These people aren't the primary focus of Ferrari unlike other brands who wants to cater to these 'jumpers'.
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Re: Insights & Analysis of Ferrari’s 2022 Results
Certainly Ferrari would hope your analysis is correct. 
I happen to believe as society becomes entrenched in the concept of EV they will see it as nothing more than a mode of transportation which in the future won’t even require their input. Performance and styling will be secondary. The transportation mode will not define who you are as it does today.
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The purpose of life is to enjoy the moment.
Re: Insights & Analysis of Ferrari’s 2022 Results
nberry:Certainly Ferrari would hope your analysis is correct.
I happen to believe as society becomes entrenched in the concept of EV they will see it as nothing more than a mode of transportation which in the future won’t even require their input. Performance and styling will be secondary. The transportation mode will not define who you are as it does today.
Not actually an analysis, I talked to enough Ferrari owners to come to such a conclusion. And Ferrari itself basically knows this from the beginning hence why they aren't even panicking. Others who doesn't know the car business are the ones panicking for them.
What you had described there fits perfectly to Tesla's model. They WANT the EV car to be just another appliance. That way, they can reset the playing field. Right now they had no hope of matching brand history and loyalty of others. But if cars are like refrigerators, then they think they can stretch their wings, providing us with a 'smart' fridge so to speak.
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Re: Insights & Analysis of Ferrari’s 2022 Results
Ferrari is the most powerful automotive brand in the world and one of the most powerful brands in the world.
They also anticipate the future. I listened to a business podcast a few months ago. The guest was Volvo's CEO. He said that the automotive industry is going through three main revolutions: 1) EV; 2) SW and autonomous vehicles and 3) Retail with direct-to-consumer approach. He said that the EV revolution, while a watershed moment, is actually less significant than the SW/autonomous vehicle revolution because EV are actually quite simple and in any case simpler than ICE cars. However the SW/autonomous car revolution is much more complex and the tech companies have a leg up, hence why Apple is coming in. This is when I understood why Ferrari brought in a CEO with no car experience but tech experience and I realized it understands and anticipates where the car industry is heading to.
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