Italian Carmaker Accepts Cryptocurrecies
Ferrari adds option in the US and plans to in Europe, other areas where the alternative funds can be used.

The payment processor Ferrari is using in the U.S. will convert the payments into traditional currency for dealers, shielding them from crypto price swings.
IMAGE: Pexels/Alexander 99
Ferrari is accepting cryptocurrency as payment for its models in the U.S. market and plans to start offering that option in Europe, according to a Reuters report.
Cryptocurrency hasn’t gained wide acceptance due to digital currencies’ volatility, inconsistent regulation of them, and the high energy consumption needed to power the computers behind the currencies, the news agency pointed out.
Some Ferrari customers have requested the option to use it in their vehicle purchases, though, and Ferrari has granted what may be a first in the auto retail industry. After it introduces the payment option in Europe, it plans to expand it to other regions where cryptocurrencies can be accepted by law, Reuters said.
The concession accommodates a wealthy clientele who can afford sticker prices ranging up to more than $2 million. Ferrari won’t charge an additional fee for payments in cryptocurrencies.
The luxury automaker’s marketing head told Reuters that most of its U.S. dealers have arranged to accept the payments or are close to doing so and that he’s “confident” the remaining ones will follow.
Reuters indicated the payment processor Ferrari is using in the U.S., BitPay, will convert the payments into traditional currency for dealers, shielding them from crypto price swings.
Originally posted on Auto Dealer Today
More Industry

Kia Closes Out Summer With a Bang
Its U.S. subsidiary broke multiple records in August, in part due to a surge of demand for hybrids models.
Read More →
Indiana Dealership Changes Hands
A 30-year-old Ford dealership in Indiana has a new owner and will soon be undergoing renovations to meet manufacturer requirements.
Read More →
Texas Dealership No Longer in the Family
The Ford store, a longtime cornerstone of the Houston market, is now part of one of the fastest-growing U.S. auto groups.
Read More →
Genesis Grows California Presence
The Cardinale Automotive Group opened its third Genesis rooftop in the Golden State, Genesis of San Bruno, a stand-alone dealership serving the San Francisco Bay Area.
Read More →
August Auto Sales a Mixed Bag
An early forecast shows strong business despite consumer hurdles, and hybrids are a big piece of their affordability coping strategy.
Read More →
EV Market Humming Along
July sales show steady growth as the segment stabilizes from last year’s artificial surge following pullback of federal support.
Read More →
Auto Loan Delinquency Rates Stabilize
Auto loans are a main driver of nonmortgage consumer debt, but delinquency rates stabilized in the second quarter across all credit risk tiers.
Read More →
EV Sales Recover in Q2
The EV sales roller coaster continues as numbers show improvement, but industry experts predict a year-over-year third-quarter decline and fourth-quarter jump.
Read More →
The Cheapest Hybrids to Fuel
The powertrain is increasing in popularity, in no small part due to its fuel economy. A new report lists the most efficient hybrids on the market.
Read More →
Hybrids and SUVs Gaining Ground
The most recent Kelley Blue Book Brand Watch found that only two nonluxury brands increased in shopper consideration, buoyed by their hybrid and SUV offerings.
Read More →