Ferrari to continue to shorten model lifecycles
The five-year lifecycle of the 488 could soon become the norm in growing supercar arms raceFerrari says enthusiasts can expect faster model turnaround times in the future, referencing the relatively quick five-year lifecycle of the outgoing 488 GTB.
The Italian manufacturer formally anointed the new Ferrari F8 Tributo as its new mid-engined V8 offering during a lavish ceremony in Sydney last week. The newcomer will ultimately replace the 488 within the Ferrari fold, a car which it is heavily based upon.
Amid growing competition from the likes of McLaren and Porsche, along with established compatriot Lamborghini, Ferrari says it will turnaround models faster than in the past.
But according to Far and Middle East chief executive Dieter Knechtel, the Italian marque is doing this off its own bat – not because of what the competition is doing.
“We love our competitors and we think competition is always healthy. It’s good for everybody,” he said.
“We are looking at what the other brands are doing, but this is not the reason for faster model turnaround.”
Instead, Knechtel said Ferrari was looking to boost engagement with its current customer base, and bring new buyers into its fold. And the way to do that is to have a constant influx of fresh metal.
“We want to take opportunities in the market if we have the chance to take them,” Knechtel said.
“We’re diversifying the model range in areas where we haven’t previously been in the past. Out of this, we’ve announced a model plan we’ve announced a model plan that takes us out to 2022.
“There’s a reason behind all this. We believe we can engage and attract more people to the brand, new people to the brand.”
Knechtel said Australia was the number one market in the world at the moment for ‘new-to-Ferrari’ clients on a percentage basis, a factor he partially attributes to new models.
“If we have a series of launches, the only reason for that is we want to reach out into the market,” he said. “We have accelerated our pace of development, which is a good thing.”
Chief among Ferrari’s upcoming models is the new Purosangue SUV and a new GT model, both due in the next three years.
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