Velocità Motors gears up for higher Ferrari sales

February 18, 2025 | 12:00am

MANILA, Philippines — Velocità Motors Inc., the official distributor of Ferrari in the Philippines, is looking to deliver more cars this year amid strong demand.

Japheth Castillo, general manager of Velocità Motors told reporters yesterday during the launch of the Ferrari 12Cilindri, that there has been strong demand for Ferrari cars in the country.

He said Velocità Motors has received over 40 orders, with some deliveries stretching until 2027.

“We’ve been given about 20 units in allocation for this year and we do hope to be able to deliver all of them this year,” he said.

Last year, Velocità Motors delivered 16 units.

“Our situation is dependent on how many cars will be invoiced to us by Ferrari. So if they invoice the cars to us and ship the cars to us, that’s the only time that we will know how many cars exactly will come to the Philippines,” Castillo said.

He said the luxury car segment in the Philippines has been doing well.

“We have been able to take a good number of orders for the Philippines given that it’s a small market,” he said.

Velocità Motors chief planning officer and director Jacob Ang said the luxury car segment has benefitted from the government’s move to bring down the import tariff on electric vehicles (EVs), including hybrid vehicles.

He said the executive order (EO) “has helped a lot in the sales.”

Velocità Motors has reduced the prices of some of its hybrid offerings due to the reduced tariff.

“As long as that EO stays, then I think it will benefit the market,” Ang said.

Castillo said the launch of the 12Cilindri sets the mood for another exciting year for Velocità Motors, with Ferrari set to launch four new products this year.

Aimed at driving enthusiasts, the 12Cilindri has a base price of P43.9 million.

Velocità Motors is part of the San Miguel Group.