Ferrari Hybrid Values Sink As Buyers Chase V8s And V12s

Key Takeaways

• Hybrid models like 296 GTB down 7% YoY, below retail.
• V8/V12 models (812 GTS, F8 Spider) up 25%+ above original price.
• Overall used Ferrari prices dropped 3.4% YoY in April.
• Wealthy buyers prefer combustion engines, shunning hybrid Ferrari models.
• Ferrari's used‑car market shows stabilization yet hybrid demand stays weak.

Pulse Analysis

Goldman Sachs’ latest Ferrari Residual Value Index reveals a nuanced picture of the marque’s secondary market. While the overall fleet of used Ferraris slipped 3.4% year‑over‑year in April, the depreciation gap between hybrid and combustion models is stark. Legacy V8 and V12 models—most notably the 812 GTS and F8 Spider—continue to command premiums of 25% to 30% above their original MSRP, underscoring enduring demand for raw performance and heritage. In contrast, newer hybrid offerings such as the 296 GTB/GTS and the SF90 Stradale have fallen below their launch prices, with declines ranging from 7% to 12%.

Several factors drive this split. Ferrari’s brand equity is built on the romance of naturally aspirated engines, and its affluent buyer base often views hybrids as a compromise on driving purity. Moreover, the limited production runs and higher upfront costs of hybrid models can suppress resale appeal, especially when comparable combustion variants deliver comparable exclusivity at lower price points. Regulatory pressures are nudging the industry toward electrification, yet the luxury segment remains less price‑sensitive and more experience‑driven, slowing hybrid adoption. As a result, Ferrari’s strategic rollout of hybrid technology faces a cultural hurdle that extends beyond mere compliance.

The market dynamics have broader implications for Ferrari’s future roadmap. A weak secondary‑market performance for hybrids could temper the company’s investment pace in electrified powertrains, prompting a more gradual integration of hybrid technology alongside its traditional V8/V12 lineup. For collectors and investors, resale values remain a critical metric of brand health, influencing purchase decisions and portfolio diversification. Monitoring these trends will be essential as Ferrari balances heritage with sustainability, shaping both its product cadence and its positioning within the ultra‑luxury automotive arena.