Regarding selling luxury cars, brands like Ferrari (NYSE:RACE), Rolls-Royce and Maserati use strategies that are as extravagant as their vehicles. These automakers know how to make their cars irresistible – and sometimes even make their customers feel like they're getting a deal when doing the company's work for them.

Take Ferrari, for instance. A prominent marketing expert, Rory Sutherland, pointed out how the brand has devised a smart way to shift delivery costs onto its customers while framing it as an exclusive experience. The company can deliver a Ferrari to your local dealership for free if you buy it. But for around £500 ($630), you can opt for a “factory tour” in Maranello, Italy, where you pick up your car and drive it home at your own cost. 

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Customers willingly pay to collect their cars because the experience is marketed as a unique privilege. It looks like a brilliant psychological play that makes customers feel special while cutting Ferrari's costs.

Meanwhile, according to Sutherland, Rolls-Royce and Maserati took a different approach to make their luxury cars seem like impulse buys. Instead of showcasing their vehicles at traditional car shows – where their high price tags stand out – they moved to yacht and private jet shows. The logic? If you've spent all day looking at multimillion-dollar yachts and jets, a $250,000 car suddenly feels like a much smaller expense – an impulse buy.

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Ferrari is also making bold moves into cryptocurrency payments. After successfully rolling out crypto payments in the U.S., the brand expanded the option to Europe in July. Partnering with BitPay, Ferrari now accepts Bitcoin, Ethereum and USD Coin for its cars, instantly converting the payments to traditional currency. According to the company’s representative, this was done in response to consumer demand and to suit the tastes of their affluent, tech-savvy audience. By the end of 2024, Ferrari plans to offer crypto payments globally where legally permitted.

Ferrari isn't stopping there. The brand is gearing up to launch its first electric supercar in the fourth quarter of 2025. Ferrari ensures its EVs maintain the brand’s signature appeal with a new factory in Maranello dedicated to hybrid and electric vehicles and a state-of-the-art lithium battery research lab.

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CEO Benedetto Vigna is reinventing the sound of electric motors to preserve the classic sensory experience of driving a Ferrari. Ferrari is placing a big bet on strong consumer interest across age groups to compete with market leaders like Tesla.

Even as Ferrari accelerates into the future, its financial performance remains strong. The automaker reported an 11% year-over-year sales growth in Q1 2024, bringing in $1.72 billion in revenue. Shipments held steady at 3,560 units and Ferrari is on track for fiscal 2024 net revenues exceeding €6.4 billion.

Whether paying to pick up your car, splurging on a $250,000 vehicle after looking at luxury yachts or buying a Ferrari with Bitcoin, one thing stands out: luxury car brands know how to keep people coming back. They use smart strategies, cool technology and new financial trends to stay ahead in the world of high-end cars.

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This article Ferrari Devised A Clever Way To Play Customers, But Rolls-Royce And Maserati Took A Different Route – 'A $250,000 Car Is An Impulse Buy' originally appeared on Benzinga.com

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