Ferrari (RACE, Financial) has launched its first new supercar in over a decade, the limited-edition F80. Despite its hefty base price of €3.6 million ($3.9 million), all units have been sold out. The car boasts a 1200-horsepower V6 hybrid engine and is one of the Italian luxury carmaker's most expensive models, limited to just 799 units. Deliveries are set to begin by the end of next year.
This new model is part of Ferrari's strategy to further enhance its industry-leading profit margins. Although Ferrari produces significantly fewer cars than its competitors, its high profit margins have made it the most valuable automaker in Europe.
Amid a general slowdown in luxury spending, demand for high-end supercars priced over $1 million remains robust. In Italy, the F80 is priced at €3.6 million, with pricing for other countries to be announced later. It reaches a top speed of approximately 217 mph and is Ferrari's first supercar since the launch of LaFerrari in 2013. The F80's design is inspired by the aerospace industry, and Ferrari’s Chief Design Officer Flavio Manzoni emphasized a desire for a futuristic and disruptive creation.
Enrico Galliera, Ferrari's Chief Marketing and Commercial Officer, stated earlier this week that the model's pre-reveal event was highly successful, with all 799 units informally reserved by potential buyers even before contracts were signed. Selling each car at €3.6 million will yield a total revenue of €2.88 billion for Ferrari.
CEO Benedetto Vigna, who joined the company in 2021, has prioritized increasing electric vehicle production, with plans to launch Ferrari's first electric supercar by the fourth quarter of next year. Vigna also aims to maintain the exclusivity of Ferrari's product line through bespoke services, allowing for further pricing increases.
