Ferrari selects 499 ‘lucky’ clients to buy $1.85 million supercar Monza

The selected clients will be free to choose between the one- and two-seat versions of the car.

autos Updated: Oct 02, 2018 19:54 IST
Ferrari,Ferrari Monza,supercars
Ferrari Monza SP1 luxury automobile. It will sell for its 1.6 million euro ($1.85 million).(Bloomberg)

Ferrari NV has picked 499 of its most loyal customers to get the chance to buy its 1.6 million-euro ($1.85 million) Monza supercar.

The selected clients will be free to choose between the one- and two-seat versions, but they can get just one, Enrico Galliera, the company’s head of sales and marketing, said on Tuesday in an interview with Bloomberg Television at the Paris Motor Show. No one will be eligible to buy both of them, he said.

“We have already identified the lucky few who have the possibility to buy it: Every single car has been allocated to a specific name,” Galliera said.

Ferrari styles itself as a luxury-goods company as much as an automaker, and the air of exclusivity it’s cultivating around the Monza is similar to the strategy used by companies such as Hermes International in selling $10,000-plus Birkin handbags. Limiting the number of products available just enhances their appeal to would-be buyers.

Monza SP2 will be sold to select Ferrari clients. (Bloomberg)

The carbon-fiber, 810-horsepower Monza carries a 12-cylinder engine and will be capable of reaching 100 km per hour in less than three seconds. It will go on sale at 1.6 million euros in Italy, including VAT taxes.

The Monza Sp1 and Monza Sp2 are part of Ferrari’s five-year strategy under Chief Executive Officer Louis Camilleri, who took over from a dying Sergio Marchionne in July. The new CEO plans to broaden Ferrari’s offering of limited-edition supercars to boost profit margins to over 38 percent in 2022.

That would equal the margin delivered by Hermes, the French fashion stalwart, last year, based on Bloomberg data. In 2017, Ferrari reached 30 percent -- just behind Apple Inc.’s 31 percent, and well ahead of luxury carmakers like BMW AG.

Galliera said Ferrari is already working on a new special edition to follow the Monza as part of its new “Icona” project. Ferrari has an average waiting list of 12 months, which rises to 24 months for its most exclusive cars.

First Published: Oct 02, 2018 19:53 IST