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White Lines, blue skies, Kiwi summer roadies are baaaack, baby! 🚗
While Omicron did its best to steamroll our road trip plans last summer, this year we’re making up for lost time. Festivals are back, the beach is calling and we’re fresh out of excuses not to drive four hours to see the in-laws at Christmas. 🎅🤶 Yep, it’s time to crank up the ultimate summer road trip playlist and get the wheels rollin’. Thanks, Jeep! (STLA). 🎵
One addition to the playlist this summer might need to be James Hype’sFerrari. Despite the economic clouds overhead, demand for luxury sports cars like Ferraris and Lamborghinis is red hot. Or Rosso Corsa hot, to be precise. 🔥 Earlier this month, Ferrari (RACE) said that total vehicle shipments in the third quarter increased 16% year-on-year and that their entire range was almost sold out. Zoom zoom! 🏎️
It could be just as hard to get your hands on a new Lambo this summer. Lamborghini (owned by Volkswagen Group) says they’ve also sold out of new cars through into 2024. Perhaps that’s why the car maker has branched out to selling a collection of NFTs… ’though the ‘Epic Road Trip’ NFT project might be a little late to the party. Trading volumes in NFTs are down 97% from their 2022 peak, back when you could simply blow up a Lamborghini and flog off the pieces as NFTs. 🤷
Both Ferrari and Lamborghini brands are symbols of gas guzzling high performance sports cars, but have been slow to gain traction when it comes to going green. In the race for all-electric vehicles (EVs), the companies are laps behind competitors like Tesla (TSLA). Ferrari expects to introduce its first EV in 2025, while Lamborghini is aiming for 2028. Until then, the cars might be as elusive as our search for Goody Goody Gum Drops ice cream this summer. 🍦
We’re not financial advisors and Hatch news is for your information only. However dazzling our writing, none of it is a recommendation to invest in any of the companies or funds mentioned. If you want support before making any investment decisions, consider seeking financial advice from a licensed provider. We’ve done our best to ensure all information is current when we pushed ‘publish’ on this article. And of course, with investing, your money isn’t guaranteed to grow and there’s always a risk you might lose money.
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