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Keyword: commidity
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Ferrari Floored As Accelerating Commodity Costs Slam Supercars
Ferrari NV announced that soaring commodity prices would begin affecting the prices of its new supercars. The average cost for an Italian supercar, made by Ferrari, is between $200k-$400k, making it one of the most expensive production automobiles globally (besides French supercar maker Bugatti). During a 60-minute earnings call with investors on Wednesday, Ferrari discussed better-than-expected fourth-quarter earnings as shipments jumped during the pandemic. However, the company explained that rising commodity costs would result in continued supercar inflation this year. Susy Tibaldi, a luxury analyst at Swiss bank UBS, asked Antonio Picca Piccon, the CFO of Ferrari NV, since inflation...
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