Beyond Premium: Ferrari Is Set to Hike Its Prices by Early 2023 - The Scene

Currently, a Ferrari Monza is priced at around 1.6 million euros, while its Portofino model commands about 215,000 euros.

Italian luxury sports car manufacturer Ferrari is set to hike its prices by early 2023. The news was confirmed by Ferrari chief executive Benedetto Vigna, per Bloomberg. Vigna said, despite good sales performance in the first half of 2022, it faced “a record level of orders and longer delivery times.” 

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Like many industries, automobile manufacturers are facing the reality of inflation. As a result, they’ve experienced a shortage of raw materials and parts, including their recognized semiconductors. Last March, Reuters reported the soaring metal costs carmakers to face due to Russia’s ongoing invasion of Ukraine. 

Cultivating rarity

At the time, German manufacturers such as Volkswagen and BMW had to halt the production of their wire harnesses, which Ukraine supplied. Wire harnesses are a vital component of automobiles, as they neatly wad up to 5 kilometers of cables for an average car. 

Vigna said Ferrari would purposely slow down its production by next year, which is meant to cultivate rarity. 

Currently, a Ferrari Monza is priced at around 1.6 million euros, while its Portofino model commands about 215,000 euros. The new cost of the Ferrari models has yet to be released. 

Banner image from @Ferrari on Instagram.

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