Ferrari's SF90 Spider is a S$2m antidote to the pandemic

Singapore

IF THE Covid-19 pandemic has left you feeling cooped up, Ferrari might have a solution. The SF90 Spider, an open-top two-seater that offers plenty of sunshine and fresh air, is the brand's latest model to roll into town. A left-hand drive unit is in Ferrari distributor Ital Auto's showroom on Leng Kee Road until May 24 for customers to see and touch but not drive.

The SF90 Spider even fits the bill if you miss flying; its hybrid drivetrain puts 1,000 horsepower at the driver's command, which is enough to launch the car to 100km/h in 2.5 seconds, and on to 200km/h in another 4.5 seconds.

Its green credentials are less dramatic. As a plug-in hybrid electric vehicle, it can cover up to 25km on battery power alone, at up to 135km/h. Yet, the concession to sustainability may be boosting Ferrari's appeal with younger buyers.

The SF90 Stradale, a fixed roof version of the car, has helped to lower the average age of Ferrari's customers. Around half of its buyers are new to Ferrari altogether.

Then again, Ferrari's customers have been getting younger for years. Dieter Knechtel, the president of Ferrari Far and Middle East, which covers 18 countries including Singapore, told The Business Times that Ferrari has seen "an extremely strong rejuvenation" of its customer base in the six years he has held the job.

"You will be surprised," he told BT. "Between 2015 and 2020, the share of customers below 40 years of age has more than tripled." He said 22 per cent of Ferrari buyers here are now younger than 40.

Last year, 44 Ferraris were registered in Singapore, a record number since a tax hike in 2013 took a chunk out of luxury car sales. In the first four months of 2021 Ferrari put another 18 cars on the road. "In Singapore, the demand for Ferraris is very robust," Mr Knechtel said.

The SF90 Spider could well test the limits of that demand, as the brand's most expensive series production model. It costs S$1,977,544 without Certificate Of Entitlement or optional extras, which tend to add hundreds of thousands to the final price.

Buyers can only start to take delivery a year from now, however. As with the pandemic, buying Ferrari's hot new models is a waiting game.