Ferrari on Monday announced the expansion of its extended warranty program with two new products aimed specifically at owners of plug-in hybrid models like the SF90 Stradale and 296 GTB.
They include the Warranty Extension Hybrid and Power Hybrid extended warranties, both of which can be purchased in two- or four-year blocks. Ferrari didn’t mention pricing in its announcement.
Ferraris come with a three-year factory warranty, while for hybrid models the factory warranty automatically extends to five years for the hybrid-specific components. The extended warranties can be purchased for cars that have elapsed the original factory warranty, following a technical inspection of the car by an authorized Ferrari dealer, the automaker confirmed.
The Warranty Extension Hybrid extends the factory warranty for the whole car, and when the warranty is extended up to the eighth year, Ferrari will replace the battery at no extra cost. A second replacement will happen after the 16th year, once again at no extra cost if the warranty is extended. This will ensure that there’s no loss of performance over time from battery degradation.
The Power Hybrid specifically covers the powertrain, including the battery and related components, from year eight to 16. In this case, the battery will be replaced after the 16th year.
Ferrari 296 GTB
As with Ferrari’s other extended warranty products, Warranty Extension Hybrid and Power Hybrid transfer to any eventual subsequent owner.
Bloomberg reported last week that Ferrari will offer similar products for its future electric vehicles.
The battery is the single most expensive component in most electric vehicles, and there have been cases where replacing one after the warranty expired resulted in a bill costing more than the vehicle was worth.
While that isn’t likely to happen in the case of Ferrari’s EV due next year, which is reported to cost over $500,000, Ferrari may still look to offer an extended warranty to alleviate an owner’s concern of a dead battery, as well as create a new source of revenue for the company. According to Bloomberg’s sources, the EV extended warranty will cost around 7,000 euros (approximately $7,500) annually.
Much like Ferrari’s existing extended warranties, the level of surety the battery extended warranty provides should help maintain resale values, especially as more electrified models are launched.
This article has been updated with official information on the new extended warranty programs.