First-Time Buyers 'Excluded From Ferrari Market'

08-03-07

HIGH Ferrari prices are making it harder for young professionals to get their foot on the Italian supercar ladder, according to a new study.

With the price of the average brand new Ferrari now in excess of £150,000 more young people are renting Ferraris for the weekend, while some are even forced to share a second-hand Ferrari.

The study by the British Ferrari Owners Club (BRIFOC) found that young professionals, including nurses, teachers and policemen, would now have to borrow 7.5 times their salary simply to get on the waiting list for for the basic F430 with full leather interior and a CD changer.

"The government really has to get to grips with this," said a BRIFOC spokesman. "Why should hard working young people be denied such an extravagant status symbol? Owning a brand new Ferrari is a right, not a priviledge."

Mandy Harris, a 22 year-old student nurse from Warwick, said: "It's so unfair. I'm forced to drive around in this ugly, smelly Ford Focus which only has leather trim and a single CD player. The best I can do is hire a second-hand Ferrari during the summer with a couple of mates."

She added: "Thanks a lot Gordon Brown. You've turned my life into a pile of shit."

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