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Ferrari mixes sport with power in new Spider and GTS models

Italy's Ferrari showed off two new cars on Monday as it pursues an aggressive roll-out of new premium models to sustain turbo-charged core earnings and share price growth.

A day after its Formula One team won the Italian Grand Prix for the first time since 2010, Ferrari took the covers off the F8 Spider and 812 GTS.

The high-performance sports car and an easier-driving grand tourer (GT) are part of Ferrari Chief Executive Louis Camilleri’s plan to launch 15 new models between 2019 and 2022, and achieve a significant increase in average retail price.

“It is less extreme than the 488 Pista Spider, but sportier than the 488 Spider which it replaces in the range,” Ferrari said of the F8 Spider, with a 720-horse power 3.9 litre eight-cylinder mid-rear mounted engine and retractable hard top.

Ferrari said the 812 GTS would be the most powerful production convertible on the market and mark the “return for a model type that has played a pivotal role in the marque’s history since its foundation”.

The GTS has a massive 800-horse power front-mounted 12-cylinder engine and will cost 336,000 euros ($370,742), while the F8 will be priced at 262,000 euros. The first deliveries are expected before summer 2020.

The average sales price for a Ferrari stood at around 274,000 euros last year, including spare parts, a calculation based on financial data from the company shows.

One more launch is expected by the end of the year to take the total to five in 2019, including the F90 Stradale, Ferrari’s first hybrid car to be widely produced.

Ferrari has also promised several special edition hybrid cars and a utility vehicle, the Purosangue, which is expected by late 2022 as it seeks to almost double core earnings and boost margins to above 38% without sacrificing exclusivity.

GTs from the 1960s, some seating four people, are among the most popular at auctions and enthusiast events and Ferrari has said previously that about 40% of its total sales could come from them by 2022, up from 32% now.

The ‘Cavallino Rampante’, or ‘Prancing Horse’, known for its racing pedigree and roaring combustion engines, wants 60% of its cars sold by 2022 to be hybrids. Ferrari is also considering a full-electric model, but that will not hit the road before 2023.

(Production: Gabriele Pileri, Fabiano Franchitti)

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