P&A Providers & Administrators
MenuMENU
SearchSEARCH

Ferrari Calls Cryptocurrency Foray a Success

Carmaker will add the payment options in its European dealerships this month after introducing it in the U.S. last year.

July 24, 2024
Ferrari Calls Cryptocurrency Foray a Success

Ferrari says its dealers don't have to deal directlly with cryptocurrency because it's immediately converted to traditional currencies.

Credit:

Pexels/David McBee

1 min to read


After nearly a year of accepting cryptocurrency for car sales in the U.S., Ferrari plans to add the option for European transactions.

The Italian automaker, calling its U.S. cryptocurrency sales successful, said it will extend the alternative currency capability to its European dealers at the end of this month, though it said most there have already added it or are in the process of doing so.

Ad Loading...

Ferrari started accepting cryptocurrency through U.S. dealers in October. Expanding it to Europe will “support dealers in better addressing the evolving needs of its clients,” it said in a press release on the move.

It said it will extend the capability to yet other countries by the end of the year “where cryptocurrencies are legally accepted."

Ferrari is tapping payment specialists with expertise in cryptocurrency to help it process such transactions. It emphasized that its dealers won’t need to understand the alternative payment method because cryptocurrency payments will immediately be converted to traditional currencies.

“The providers' solutions will also allow for the verification of the source of funds and protect transactions from price fluctuations related to exchange rates,” the company said.

Originally posted on Auto Dealer Today

More Industry

Subwoofer in trunk of car.
Industryby Lauren LawrenceMay 26, 2026

Ownership Priorities are Shifting

A new survey shows that in the U.S. vehicle quality for generation Z is largely defined by advanced safety features, intuitive technology and premium sound systems.

Read More →
Man's hand holding gas pump in fuel tank of white car
Industryby Hannah MitchellMay 26, 2026

Pump Price Jump Calculated

ISeeCars.com examined fuel costs for different power trains, finding which ones have experienced the biggest hits since the war in Iran commenced.

Read More →
Graphic showing previous week's truck and SUV segment prices
Industryby StaffMay 20, 2026

Black Book: Weekly Market Update

Wholesale values fell last week despite the spring season still being in the traditional full-gear mode, analysts said.

Read More →
Ad Loading...
Photo of dealership sign with Toyota logo
Industryby Lauren LawrenceMay 19, 2026

Arkansas Auto Group Acquires First Indiana Rooftop

Performance Brokerage Services represented both the buyer and seller in the sale of Carver Toyota of Columbus by Carlock Automotive Group.

Read More →
Headshot photo of Antonio Filosa, Stellantis CEO
Industryby Hannah MitchellMay 19, 2026

Stellantis to Dive Into U.S. Lending

The multinational maker of Chrysler, Dodge, Jeep, Ram and multiple other brands received conditional approvals for a Utah-based industrial bank.

Read More →
Photo of the rear of a new BMW iX SUV
Industryby Hannah MitchellMay 12, 2026

New-Vehicle Prices Rise

With April sales down, higher prices on in-demand large vehicles helped inflate the overall ATP, though increases were under long-term averages, Cox Automotive reported.

Read More →
Ad Loading...
Graphic of car segments' results the previous week
Industryby StaffMay 12, 2026

Black Book: Weekly Market Update

Last week in the wholesale automotive market proved to be a mixed bag, analysts reported.

Read More →
Graphic of last week's estimated used retail days to turn
Industryby StaffMay 6, 2026

Black Book: Weekly Market Update

Conversion rates were flat last week at 63%, Black Book analysts calculated, as low-mileage and almost-near units outpaced the overall market.

Read More →
cargo ship with vehicles, at dock
Industryby Lauren LawrenceMay 5, 2026

EU Auto Association Urges Action

Trade relations between the European Union and the U.S. are at risk, causing the European Automobile Manufacturers Association to push lawmakers to make a decision.

Read More →
Ad Loading...
two people working on a paper contract together
IndustryMay 1, 2026

Driving into the Super CFC Era

Understanding the risks and benefits of retail accounting and Super CFCs can help you better present options to your dealer partners.

Read More →