Ferrari's classic cars at the Monterey auction sold for a median 58% premium over estimates, with some models like the Daytona SP3 and a unique Luce chassis far exceeding expectations. This strong demand from collectors supports Jefferies' Buy rating and price targets of €400 and US$435 for Milan and US shares respectively. The auction results validate Ferrari's pricing power and mix strategy, with tightening used car inventory and rising prices for older models. Jefferies expects further model launches to strengthen Ferrari's luxury market growth and pricing power.
Ferrari's first all-electric car, the Luce, sold for $40 million at a charity auction during Monterey Car Week, far exceeding its $1.1 million estimate. This sale set a new record for the highest price paid for a new car at auction, with proceeds goi...
A bespoke model of Ferrari's first fully electric vehicle, the Luce, sold for $40 million at a charity auction, setting a record for the highest price paid for a new car at auction. The sale took place at Monterey Car Week, with proceeds benefiting F...
