Yahoo Autos Ferrari Thinks $7,500 Battery Subscription Will Help Resale Value
Ferrari plans to offer a $7,500 annual battery subscription for its hybrid and future all-electric vehicles. The extended warranty service is intended to ease concerns about range degradation as the battery-equipped Ferrari models age, Bloomberg reports. The Italian automaker also intends for the service to maintain the resale value of these vehicles. Ferrari is currently developing a noisy prototype electric car.
The battery warranty service will entitle owners to a battery replacement after eight years if they do not encounter a defect earlier that necessitates an earlier swap. They would automatically be scheduled for a secondafter their vehicle’s 16th year on the road. Along with offering peace of mind, it would generate a steady stream of revenue for Ferrari, a goal for CEO Benedetto Vigna. The $7,500 annual fee might sound expensive to us not fortunate enough to own a Ferrari, but it’s a tiny tithe to Maranello when you consider that the Ferrari 296 GTB starts at $338,000. Should an owner not want to pay the subscription, Ferrari hybrids are currently covered by a five-year battery warranty.
Ferrari’s hybrid models are already outselling its traditional internal combustion cars. Between July and September last year, hybrids comprised 51 percent of Ferrari’s sales. This isn’t a gradual shift towards 100 percent, but tilting towards an equilibrium. Ferrari plans to use a mix of powerplant types for the foreseeable future, with an all-electric model expected to debut in 2025 and no fixed end date for its combustion-only models.
