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Thu 6 Apr 2017 11:24 AM

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Ferrari resale value 75% to 90% on average, says MidEast exec

Dieter Knechtel said some markets witness over 100% resale value on Ferraris

Ferrari resale value 75% to 90% on average, says MidEast exec
The new Ferrari 812 Superfast, which was launched in Dubai

The resale value of a pre-owned Ferrari is approximately 75% to 90% of its original sticker price, depending on the model and market, according to the brand’s chief executive of the Far and Middle East Dieter Knechtel.

Speaking to Arabian Business at the reveal of the new Ferrari 812 Superfast in Dubai, Knechtel said the resale value also depends on the attractiveness of new models.

“Towards the life-cycle end of one model, the resale value might drop a little bit. But we look into it after three years. I don’t know [the resale value] exactly now for the UAE, but 75% to 90%, depending on the market, definitely,” said Knechtel.

“We even have markets in the Far East where we have more than 100% resale value - that means the pre-owned car is more expensive than the new one. It’s very difficult to say in general, you have to be very specific,” he said.

Knechtel said Ferrari’s high resale value is one of the reasons behind the brand’s success.

“Since we are not producing cars in stock, we never allow our resale value to drop. We protect that by balancing also the speed and the volume of the cars in the market. We have a very good control of it. We are holding very tightly.

"Actually, if a customer buys a Ferrari, he knows he has good value over time. That is actually the key to it. We want to make sure the customer has a product in his hand which he can be confident of selling again a couple of years late at a very good price,” he said.

Ferrari launched its fastest and most powerful car, the 812 Superfast, at the Geneva Motor Show in March, before bringing it to Dubai for its second international preview.

The V12 car, which has a maximum speed of 340 km/h, is considered “the true” Ferrari and the brand’s flagship vehicle.

“The first car ever produced by Ferrari was a V12. It was a 12 cylinder engine. So it is very much the heritage of Ferrari to be represented in the 12 cylinder segment. So for many people, the 12 cylinder represents the true Ferrari, the real Ferrari,” said Knechtel.

While he remained tight-lipped on the brand’s future launches and plans, he said customers can “expect a lot to come” following a sequence of launches by Ferrari in the past 24 months.

“There are a lot of things we can surprise you with – yet to be announced,” he said.

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