MENU
SEARCHCarmaker will add the payment options in its European dealerships this month after introducing it in the U.S. last year.
Ferrari says its dealers don't have to deal directlly with cryptocurrency because it's immediately converted to traditional currencies.
Pexels/David McBee
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.
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
The new chief revenue officer joins the company from one of its partner firms and is an industry thought leader in participation programs.
Read More →
Technology leaders from Hyundai Motor Group will have open discussions at the inaugural HMG Tech Talent Forum on topics ranging from autonomous driving to 'smart' manufacturing.
Read More →
Stellantis is adding a third end-of-life vehicle dismantling facility to feed its growing reuse business sparked in large part by autos’ growing lifespans.
Read More →
U.S. consumer interest in electric vehicles lags behind other countries despite the rising gas prices caused by the ongoing war in the Middle East.
Read More →
Research reveals the brands and models most likely to have higher recall rates over their lifetimes. While some brands rank high, addressing safety issues can be a selling point.
Read More →
Dealers are facing growing frustrations with current generic artificial intelligence tools, according to a survey by Lotlinx, which found they want a solution that understands their inventories.
Read More →
Scott Cooke has served in various roles with Toyota Financial Services for over 20 years, including president and CEO, which he retires from on June 30.
Read More →
The sale of two Minnesota franchises ends a rare multigenerational business while adding to one of the Midwest’s biggest auto groups.
Read More →
2026 NADA Chairman Rob Cochran knows a thing or two about leadership after decades in the business. He brings an emphasis on stewardship to his new role at the head of the country’s major auto retail trade group.
Read More →
Building on a previously announced $26 billion U.S. investment, Hyundai said it will grow its North American lineup and U.S.-based production and parts sourcing.
Read More →
