Ferrari Hybrid Values Sink As Buyers Chase V8s And V12s

Goldman's Ferrari Residual Value Index shows that used Ferrari listing prices remained under pressure in April, down 3.4% year over year. However, analysts noted signs of "stabilization and partial improvements" after a weak second half of 2025.

One notable takeaway from analyst Christian Frenes: Ferrari hybrids are depreciating far faster than their petrol-powered counterparts, suggesting buyers still prefer V-8s and V-12s combustion-engine models. In other words, the used market is sending a very clear signal to Ferrari that its wealthy customer base is not sold on the hybrid era.

The chart below shows a clear divide in the Ferrari market: older, combustion models are holding their value much better than newer hybrid models.

The biggest winners versus the original retail price are:

• 812 GTS: up about 29.8%

• F8 Spider: up about 25.5%

• 488 Spider: up about 15.7%

• Ferrari Roma Spider: up about 14.3%

• SF90 Spider: up about 2.8%

The laggards are mostly newer hybrid or less-favored models:

• 296 GTS: down about 1.4%

• 296 GTB: down about 7.0%

• Ferrari Roma: down about 9.8%

• Ferrari Portofino: down about 11.2%

• SF90 Stradale: down about 12.2%

The next chart shows that values deteriorated across most model lines over the past year, even for models still trading at a premium to retail. The best-performing cars, like the 812 GTS and F8 Spider, have come off their highs but remain well above their original sticker prices. Meanwhile, hybrid models such as the 296 GTB/GTS and SF90 Stradale have slipped below their original retail prices.

The big takeaway from Goldman is that Ferrari's used-car market is stabilizing, but wealthy customers still prefer V8 and V12 combustion models and continue to shun new hybrids.

Professional subscribers can read the full GS Ferrari Tracker note at our new Marketdesk.ai portal