Luca di Montezemolo

So that is $3.2 billion of Ferraris just in that car.

Wow.

Now that's retail, so let's assume a 10% retail margin that goes to the dealership, so $2.9 billion of F80 revenue to Ferrari.

Let's assume those deliveries happen about over the course of two and a half years, which means that give or take $1.25 billion of revenue in the first 12 months is going to Ferrari from that supercar.

That's 15% of revenues for the year just from that one car model.

But that is not the whole story.

Ferrari has disclosed that the Icona and the supercar models have higher margins than the rest of the line.

Of course they do.

And I've seen lots of very credible estimates.

They're way higher.

Like I've seen 80%.

I've seen 90% gross margins for the supercar.

Wow.

And this is intuitive.

You can imagine when Ferrari throws an extra $10,000 of something nice in the supercar, they market up a lot more since the buyers are wildly price insensitive.

So I think that it's not crazy to assume that while that car will contribute 15% to revenues in the first 12 months, it's more like 30% of Ferrari's annual profits just from that one supercar in its first year.

It could be even higher than 30%.

The business is in the supercars.

Yeah.

I mean, this isn't quite true, but it is funny to think about this framing.