How Ferrari will differentiate new GT models

Ferrari has upgraded the drivetrain in the Portofino convertible to give it the same specifications as its sibling, the Roma coupe. The result is what it calls the Portofino M, but the automaker says the two cars will appeal to very different customers.

The 3.9-liter front-mounted V-8 gasoline engine in the Portofino M -- the M stands for modificata, Italian for modified -- produces 612 hp, up from 592 hp of the current model. The more powerful engine is coupled with an eight-speed dual-clutch transmission first used in the Ferrari Stradale, rather than the seven-speed unit in the Portofino.

Compliance with Euro 6d emissions standards required the installation of a gasoline particulate filter, said Ferrari engineers, who in turn also had to make modifications to the camshaft and engine calibration increase the car's horsepower. 

Ferrari also redesigned the Portofino M's front end, a move made for “technical reasons,” chief designer Flavio Manzoni said on Wednesday during an online news conference to introduce the car. 

Sales of the Portofino M will start in the second quarter of 2021 at a price of 206,000 euros ($243,000) in Italy, an increase of 4 percent on the Portofino's 198,000 euro price tag. The Roma, which was unveiled in November 2019, will be delivered to customers starting in the fourth quarter of this year at a price of 200,936 euros.

The Portofino M is the seventh of 15 Ferraris to be launched between 2018-22. Arguably the most anticipated model in that group is the Purosangue crossover, which is due in 2022.

An eighth car -- as yet undisclosed -- will be unveiled before the end of this year.

Enrico Galliera, Ferrari's head of marketing, said the Portofino M has "all the innovation we unveiled on our GT cars in the last three years." Despite their similar price tags and identical powertrains, the Portofino M is not a convertible version of the Roma, Galliera said, adding that neither model would take sales from the other. 

For one, he said, there is a significant number of Ferrari lovers who "buy every single new model" that the supercar maker releases. He also said there was very little overlap between convertible and coupe buyers. 

The Portofino M and Roma are aimed at somewhat different demographics, Galliera said. Beyond buyers who want a convertible, the Portofino M should also appeal to young families with small children who can fit into the rear seats, who could use it for family trips or even daily use.

In contrast, the Roma is targeting 30- to 40-year-old city dwellers, largely single, who might drive a luxury SUV every day and will use the coupe to "make the most of the city nightlife." It should also appeal to over-40 buyers living outside cities who are looking for "understated luxury," Galliera said.

The Portofino M and Roma are part of Ferrari’s plan to increase sales of grand tourers (GTs), which are designed to be easier to drive and more comfortable on longer trips than low-slung mid-engine sports cars such as the SF90 Stradale, 488 and F8.

The automaker says that about 40 percent of total global sales could come from GT models by 2022, up from 36 percent in 2019, when overall sales were about 10,000 units.

When asked how Ferrari will preserve exclusivity while increasing sales, Galliera said that "even after COVID-19, Ferrari is still sitting on a very high demand level," with long waiting lists for some models.

To shorten those waiting lists, Ferrari can either build more units of each model or broaden the range, Galliera said. He said the first option would dilute exclusivity, which is why the company chose "to introduce new models that complement each other."