Ferrari N.V.

AI Summary

Ferrari N.V. (RACE) represents a unique intersection of luxury consumer goods and precision engineering, operating more as a Veblen-brand than a traditional automotive manufacturer. Since its 2015 IPO, the company has demonstrated remarkable pricing power, maintaining industry-leading EBITDA margins exceeding 35%. The business model is predicated on low-volume scarcity, ensuring demand consistently outstrips supply with multi-year waiting lists for most models. Ferrari's transition toward electrification through hybrid models like the SF90 Stradale has been executed without diluting brand…