New Ferrari 488 GTB arrives in Australia, but there’s a two-year wait despite $469,888 price

AUSTRALIANS are buying a record number of mega-dollar supercars. But you better not be in a hurry if you want one of the fastest Ferraris ever made.

MEET the car money can’t buy. The latest Ferrari is due on sale in Australia by the end of this year — but cashed-up buyers who order one today won’t take delivery until “some time in 2017”.

Powered by a twin-turbo V8 the Ferrari 488 GTB can sprint from 0 to 100km/h in just 3.0 seconds, only fractionally slower than a Formula One race car.

It is the Italian brand’s first turbocharged mid-engined sports car in more than a quarter of a century.

But buyers will need to have the patience of a saint to buy this devilishly quick machine because Ferrari is said to be holding more than 200 orders. And that was before the $469,888 price was announced — a $55,000 discount compared with the previous model.

F1 fast ... the new Ferrari is almost as quick as a Formula One race car. Picture: Supplied.

“The demand for this car is higher than for any other Ferrari in Australia,” said Ferrari Australia boss, Herbert Appleroth, who unveiled the 488 GTB at a special preview in Sydney today. “Orders are already stretched out to some time in 2017.”

Ferrari says the number of cashed-up Australians has grown and confidence is up in the top end of town.

New Ferrari 488 GTB

“The number of high net worth individuals in Australia has grown,” said Mr Appleroth. “There are now more than 226,000 people in Australia with more than $1 million in liquid funds.”

Ferrari says “stability in the equity markets, employment, and business confidence” were also contributing factors in the unprecedented demand.

Lap of luxury ... even the well-heeled can’t jump the queue. Picture: Supplied.

“Property values have skyrocketed, and people are coming out of their period of financial abstinence after the Global Financial Crisis,” said Mr Appleroth. “We are seeing a level of confidence we haven’t seen since 2008.”

According to a global wealth report, one-in-four of Australia’s super rich spend their disposable income on “cars, boats and planes”.

Indeed, Ferrari is on track for a record year of sales in Australia, with deliveries up by a staggering 82 per cent year-to-date, in a market that has grown by 3.3 per cent.

Ferrari has sold 95 cars so far this year and may top 200 for the first time ever; its previous record was 163 deliveries in 2008, the same year the GFC took hold.

Ready, go ... Porsche sales are up, but more SUVs than sportscars. Picture: Supplied

Other prestige brands are also cashing in on the boom: Porsche sales have increased by a whopping 61 per cent (although largely driven by SUVs rather than sportscars) and Lamborghini has delivered 60 cars to June, versus 7 in the first six months of last year, after a change in distributors.

New territory ... Bentley will introduce an SUV to boost sales. Picture: Supplied

But not everyone’s a winner: Bentley sales are down 6.6 per cent so far this year and Rolls-Royce has slid by 14.3 per cent, according to official industry figures prepared by the Federal Chamber of Automotive Industries.

Fast facts: Ferrari 488 GTB

On sale: December 2015

Price: $469,888 (of which about $150,000 is Luxury Car Tax)

Engine: Twin turbo 3.9-litre V8 (492kW/740Nm). It’s the first turbocharged mid-engine sports car from Ferrari in more than a quarter of a century.

0 to 100km/h: 3.0 seconds

Top speed: 330km/h

Options: Rear view camera ($4990)

This reporter is on Twitter: @JoshuaDowling