{"id":2282838,"date":"2024-06-24T16:49:02","date_gmt":"2024-06-24T20:49:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ferrari-races-into-new-territory-with-line-of-500000-electric-cars-washington-examiner\/"},"modified":"2024-06-24T16:52:42","modified_gmt":"2024-06-24T20:52:42","slug":"ferrari-races-into-new-territory-with-line-of-500000-electric-cars-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ferrari-races-into-new-territory-with-line-of-500000-electric-cars-washington-examiner\/","title":{"rendered":"Ferrari races into new territory with line of $500,000 electric cars &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fferrari-races-into-new-territory-with-line-of-500000-electric-cars-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2282838&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Despite \u2062the resurgence of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/two-ca-dem-senators-tell-biden-to-set-hard-date-to-eliminate-sale-of-gas-powered-vehicles\/\" title=\"Two CA Dem Senators Tell Biden To Set Hard Date To Eliminate Sale Of Gas-Powered Vehicles\">gas-powered vehicles<\/a>, Ferrari, an iconic Italian \u2063luxury car brand,\u2062 is\u2063 gearing up to launch \u2062its \u200dfirst \u2063electric vehicle (EV), which is \u2064expected to carry a price tag of around $500,000. As detailed in a recent Reuters report, unlike some other <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-unveils-2030-target-of-50-electric-vehicles\/\" title=\"Biden unveils 2030 target of 50% electric vehicles\">car manufacturers<\/a> who are reducing their \u2062prices, Ferrari is maintaining its high\u200b price strategy, targeting the ultrawealthy market segment. The \u2064projected price\u200d for this new electric model is around $535,000, significantly higher than current\u200c prices for <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/3-recent-failures-of-green-energy-policies\/\" title=\"3 Recent Failures of Green Energy Policies\">gas-powered cars<\/a> offered by the brand.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div>\n<p>Despite a resurgence of gas-powered cars, Ferrari, the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/italy\" target=\"_blank\" rel=\"noopener\" title=\"Italian\">Italian<\/a> luxury car brand, plans to release its first <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/electric-vehicles\/\" target=\"_blank\" rel=\"noopener\" title>electric vehicle<\/a>, valued at a staggering $500,000.<\/p>\n<p>The car company, known for its exclusivity, will double down on its famously high price tags and bet on the pockets of the ultrawealthy while others have begun lowering their prices, according to <a href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/ferraris-first-electric-car-cost-over-500000-source-says-2024-06-19\/\" target=\"_blank\" rel=\"noopener\" title><em>Reuters<\/em><\/a>.<\/p>\n<p>The new EV, projected to cost around $535,000, will be a steep incline from the price of gas-powered vehicles in this year\u2019s first quarter. Traditional vehicles usually clock in at about $375,000, taking into account the 15% to 20% increase that surfaces in customization. The $535,000 attached to Ferrari\u2019s electric vehicle is a calculation before any additional personalizations.<\/p>\n<p>With an EV, Ferrari will enter a market amid stagnation. Declining demand, coupled with a rush of new sellers, has driven many, including the industry\u2019s favorite son Tesla, to slash its prices. Ferrari has taken a different approach, bolstering its line of \u201cVeblen goods,\u201d or products that signal status through high prices.<\/p>\n<p>In anticipation of its new EV line, Ferrari will build a new manufacturing plant in Maranello, Italy. This factory could reportedly raise the yearly output from 14,000 vehicles to 20,000.<\/p>\n<p>For years, Ferrari\u2019s exclusivity has been a dominant factor in its great success. Buyers often spend years on waiting lists hoping to receive a specific model. With an increase in yearly output, the long-standing brand image of inclusivity could be diminished. Despite this, Ferrari hopes to find success in the <a href=\"https:\/\/inspireadvancedtransportation.com\/industry\/who-owns-evs-today-ev-ownership-trends-and-changes-2021-ev-consumer-behavior-report-rundown\/\" target=\"_blank\" rel=\"noopener\" title>EV customer segment<\/a>, mostly made up of men making over $100,000 a year.<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/a><\/strong><\/p>\n<p>But Ferrari has not abandoned its famously fast, gas-guzzling supercars. The new facility will also produce a greater supply of these traditional vehicles. While gambling with this shift in brand focus, Ferrari does not want to jeopardize its established, high-octane success.<\/p>\n<p>The new EVs are projected for release in 2025, promising to maintain the level of craftsmanship and flash long associated with the Ferrari name.<\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite a resurgence in gas-powered cars, Ferrari, the iconic Italian luxury brand, is set to launch its first electric vehicle priced at $500,000. Known for its exclusivity, Ferrari aims to target the ultrawealthy, maintaining its high price strategy as other companies reduce theirs<\/p>\n","protected":false},"author":3195,"featured_media":2282839,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/06\/Ferrari-Electric-Car.webp","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[32509,32507,24437,32508,32076],"class_list":["post-2282838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-automotive-industry","tag-electric-cars","tag-ferrari","tag-luxury-vehicles","tag-washington-examiner"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/06\/Ferrari-Electric-Car.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2282838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/3195"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2282838"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2282838\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2282839"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2282838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2282838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2282838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}