Ferrari will charge consumers a €7,000 (£5,900) monthly subscription fee in return for free battery repairs, citing concerns about burnout in its supercars. In an effort to alleviate concerns about aging battery packs, the luxury auto manufacturer is apparently offering an extended warranty service for its next generation of electric and hybrid vehicles.
The membership will provide drivers of supercars such as the €418,000 plug-in hybrid SF90 Stradale with a replacement battery every eight years, as well as coverage for flaws.
According to sources, the second battery pack replacement is covered after 16 years.
The move reflects Ferrari CEO Benedetto Vigna’s aim to diversify the Italian automaker’s revenue streams. Other luxury brands demand comparable fees to wealthy consumers for servicing their high-end automobiles. Aston Martin’s $3 million Valkyrie will cost nearly $450,000 over three years.
The Italian manufacturer is set to offer an annual subscription costing around €7,000 ($7,500) for batteries, people familiar with the matter said. The service will entitle drivers to a battery replacement in hybrid models, such as the €418,000 plug-in hybrid SF90 Stradale, after eight years and covers related defects, they said.
High-end automakers like Bugatti and Aston Martin Lagonda Global Holdings Plc generate additional revenue by charging significant fees for servicing their vehicles. Aston Martin’s $3 million Valkyrie attracts a service fee of nearly $450,000 over three years, while a four-year extended warranty for the similarly-priced Bugatti Chiron costs around $170,000.
Ferrari plans to offer a similar service for its first all-electric vehicle, which is set to debut late next year. According to insiders, a second battery pack replacement will be scheduled automatically in the vehicle’s 16th year. Ferrari’s models come with a standard three-year warranty, extended to five years for the battery and related components in hybrids.
This battery-pack subscription service is part of CEO Benedetto Vigna’s strategy to find new revenue streams and build customer loyalty. Available through Ferrari’s official dealers, the service aims to maintain the resale value of the vehicles and address consumer hesitance about switching from combustion engines.
Hybrid models accounted for about half of Ferrari’s shipments last quarter, with total sales last year just under 14,000 cars. Ferrari’s production runs routinely sell out well in advance.
As the automaker navigates both EV and combustion-engine technology, it aims to cater to both traditional customers and younger clients with varying preferences, while also adhering to tightening CO2 emissions regulations. Vigna is committed to advancing electrification, even as broader market demand for EVs cools.
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