Ferrari(US:RACE) Guan Cha Zhe Wang·2025-05-12 08:57Group 1 - Ferrari aims to revitalize its sales in the Chinese market with the launch of its first all-electric supercar, Elettrica, expected in October [1][3] - The Elettrica will be subject to a 30% composite tax rate in China, significantly lower than the nearly fourfold tax burden on current 12-cylinder models, which includes import, consumption, and value-added taxes [3][6] - Ferrari's CEO, Benedetto Vigna, indicated that a new model tailored for the Greater China market will be introduced this year, which is expected to improve market conditions [3][6] Group 2 - Since 2022, Ferrari's sales in China have stagnated, with a 25% decline in shipments in Q1, reaching a four-year low, largely due to competition from local high-end manufacturers [6] - Despite the challenges, Ferrari's reliance on the Chinese market is relatively low, with only about 10% of total shipments directed to China, partly due to high import duties on vehicles with engine displacements over 4L [6] - The company is considering revising its export limitations to China as it enters the electric vehicle market, which could enhance its competitiveness due to the exemption of consumption tax on electric vehicles in China [6][8] Group 3 - The Elettrica will be produced in a dedicated electric vehicle factory known as "E-Building," and it will be the electric version of Ferrari's first SUV, Purosangue [8] - Ferrari is exploring unique sound characteristics for its electric vehicles, with specific sounds already patented, ensuring that each model will have its distinct auditory identity [8]