|Day's range||13.00 - 13.00|
Nov.14 -- Ferrari has unveiled the Roma Coupe, a car recalling, according to the company, “a contemporary representation of the carefree, pleasurable way of life that characterized Rome in the 1950s and 1960s.” The car was unveiled to clients in Rome. The turbo-charged V8 propels the sports car to a top speed of almost 200 miles per hour.
The angular lines and rakish body, python-like headlights and outrageous, Huracán-like backend said the Urus was extreme, and all Lamborghini.
Ferrari N.V. (NYSE:RACE) came out with its yearly results last week, and we wanted to see how the business is...
Demand for Ferrari's Portofino and 812 Superfast models helped the Italian supercar maker hit last year's profit targets though it only provided a cautious upgrade to its outlook for 2020. Ferrari said the biggest increase in shipments in 2019 had come from China, Hong Kong and Taiwan but demand from the region slowed towards the end of the year. Chief Executive Louis Camilleri said its performance was especially weak in Hong Kong and he did not rule out that the coronavirus outbreak might have an impact this year.
(Bloomberg Opinion) -- Barely a year has passed since Aston Martin Lagonda Global Holdings Plc listed shares in London and persuaded investors it deserved a premium valuation similar to that of Ferrari NV. The luxury carmaker’s preliminary yearly results, published on Tuesday, were a reminder that its management badly misjudged both the strength of the brand and the resilience of its balance sheet.In reality Aston Martin isn’t a patch on Ferrari and instead faces an uphill battle just to keep the lights on. A year ago the U.K. company told investors that its dealers would probably purchase about 7,200 vehicles in 2019. In fact, wholesale volumes fell 7% to a dismal 5,800 (or about 5,900 if special models are included).Instead of the 24% Ebitda margin promised in 2019, Aston Martin achieved only 13%. This means it almost certainly lost money for the second year running. The ratio of Aston Martin’s indebtedness to Ebitda — at more than 6 times — is alarmingly high. About 3 billion pounds ($3.9 billion) of equity value has gone up in smoke since the initial public offering.Aston Martin wants investors to look past all this and focus on promising orders for the DBX sports utility vehicle, on which the fate of the company depends. Access to a second $100 million tranche of debt financing was contingent on quickly gaining 1,400 orders for the DBX, which Aston Martin has achieved.While that’s a relief, that Aston Martin now plans to draw on this very expensive borrowing reveals how fragile its finances have become. And even this might not be enough to tide the company over until DBX sales start in the second quarter.Management is reviewing funding options, including the possibility that strategic investors make an equity investment. A capital injection would reassure Aston Martin’s bondholders — while the sterling bonds sold off on Tuesday, they remain well above the October lows. But existing shareholders, who’ve suffered plenty already, must fear getting diluted (unless they engineer a takeover).In view of its salience to cash flow, the focus on the DBX is understandable, yet it shouldn’t distract from the pretty lamentable performance of Aston Martin’s core business. On Tuesday luxury rival Rolls-Royce (owned by BMW AG) confirmed its sales increased by one-quarter last year. Ferrari is expected to report a 34% adjusted Ebitda margin for 2019, almost treble what Aston Martin achieved.The British carmaker has been guilty of pushing too many cars to dealers, which puts downward pressure on pricing. Rectifying this will be a slog. Residual values for luxury cars have softened, according to Goldman Sachs Group Inc. analysts, which might make customers reluctant to pay top dollar for a new car and can make leasing expensive. Aston Martin managed to cut an inventory overhang toward the end of the year only by stepping up financing support and marketing spend.Though difficult to quantify, negative headlines about Aston Martin’s finances probably aren’t helping dealers shift models. Plenty of its customers are banker types who’ll know better than most how precarious the situation has become.To contact the author of this story: Chris Bryant at firstname.lastname@example.orgTo contact the editor responsible for this story: James Boxell at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Bryant is a Bloomberg Opinion columnist covering industrial companies. He previously worked for the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2020 Bloomberg L.P.
Porsche offers a slew of courses, or experiences, at its Porsche Experience Center in Atlanta, as well as a new facility out in Los Angeles. I decided to take the Porsche 911 GT3 experience for a spin.
Lewis Hamilton and Ferrari chairman John Elkann have met socially but talk of a move for the six times Formula One world champion is premature, according to chief executive Louis Camilleri. Ferrari had previously not confirmed the meetings, while not denying them either.
Ferrari won't have its first fully electric model ready until after 2025 as the battery technology requires more development, Chief Executive Louis Camilleri said, pushing back expectations. "The battery technology is not where it should be yet," Camilleri told reporters during a lunch in the Centro Stile at Ferrari's Maranello factory. Camilleri said Ferrari was "certainly" studying a fully electric grand tourer car (GT), but that it would stick to hybrid vehicles for the "current foreseeable future".
Six times world champion Lewis Hamilton did not deny meeting Ferrari chairman John Elkann when asked on Sunday about speculation linking the Mercedes driver with a move to the Italian team in 2021. The next deal will probably be Hamilton’s last in Formula One and he has said he is considering options outside of Mercedes, where team principal Toto Wolff’s future is also up in the air. "What happens behind closed doors is always private with whoever it is you end up sitting with," Hamilton said in response to a question about Italian media reports that he had twice met Elkann.
Six-times world champion Lewis Hamilton wrapped up the Formula One season in style on Sunday by cruising unchallenged to a dominant victory in Abu Dhabi in his 250th grand prix. The 34-year-old Mercedes driver led every lap from pole position to chequered flag, banging in a fastest lap for good measure to emphasise his supremacy under the Yas Marina floodlights.
Ferrari principal Mattia Binotto sang Lewis Hamilton's praises on Friday, fuelling speculation that the Italian team could seek to sign the six times Formula One world champion for 2021. "Lewis is certainly an outstanding driver, a fantastic driver," Binotto told reporters at the season-ending Abu Dhabi Grand Prix when asked if he would like to sign Mercedes' Briton.
Ferrari on Thursday rolled out the Roma, a record fifth new model announced this year, as the Italian luxury carmaker with the famous "prancing horse" logo looks to sustain profit and share price growth. The new grand tourer (GT) made its debut in an event inspired by director Federico Fellini's 1960 film "La Dolce Vita" held at Foro Italico, Rome's monumental sports centre and site of the 1960 Olympic games. GTs are designed to be more comfortable on long journeys than sports cars and some GTs from the 1960s among the most popular models at auctions of Ferraris.