Already expensive Ferrari supercars to get even more costly. Supply chain and inflation to be blamed
The breakdown in the supply chain system has hit auto companies across the planet. The delay in the supply of crucial electrical and mechanical equipment required to roll cars out of the factories has led to a huge backlog of deliveries. Couple it with sky-high inflation rates and you have a market where already expensive Ferrari supercars are set to get even more expensive from the first quarter of next year.
Reportedly, Enzo Ferrari founded Ferrari is expected to hike the prices of its supercar models which include the likes of Monza and Portofino. While Monza is priced at $1.6 million already, Portofino is not much cheaper either as it comes at a price of $219,460. However, both are set to receive a price hike.
While Ferrari has witnessed a positive demand trend in the supercar segment, it is not able to achieve speedy deliveries of cars. According to Ferrari's Chief Executive Officer Benedetto Vigna, the supercar company is booking orders from customers who will be receiving the delivery beyond next year.
Vigna, speaking at the earnings call stated that growth in deliveries is expected to remain slow in 2023 as well. It is quite remarkable that a sector that was earlier bleeding due to lack of demand at the peak of the pandemic, is now troubled by the lack of supplies.
However, the auto segment is not the only sector to be troubled by inflation and supply chain problems. As reported by media, leading aircraft manufacturer Boeing has also remarked that the chances of deliveries improving in 2023 were slim.
However, despite all the problems, the Italy-based auto manufacturer reported a net profit of $257 million in the quarter ending June.
One of the biggest calls to come from the warning call was Ferrari's new business plan of making 80 per cent of its cars by 2030, either electric or hybrid. Currently, Ferrari is known for its gas-guzzling, thunderous-noise-producing conventional combustion engines. However, as the world moves toward an electric and green future, Ferrari is looking to stay with the curve.