Ferrari has admitted to knowingly allowing its dealers to roll back mileage on pre-owned vehicles. In a whistleblower lawsuit filed by a former Ferrari dealership employee in Florida, Ferrari has admitted that it provided access codes to allow dealers to reset odometers to zero.
During the case, a memo came to light that appears to show Ferrari not only allowed the mileage rollback to take place, but that they actively participated. It appears that Ferrari approved a computer system that allows a technician to set the mileage back to zero. On high-end vehicles such as these, a mileage rollback could increase a vehicle’s value by hundreds of thousands of dollars.
According to the Miami Herald, once news of the mileage rollback broke, Ferrari agreed to stop the rollback program – but it begs the question: how many vehicles were impacted? And what does the future hold for the pre-owned Ferrari market? Some say this could damper prices and turn prospective buyers to other high-end vehicles. It is still too early to tell what the fallout might be, but there will likely be other Ferrari owners who come forward with additional lawsuits.
Mileage rollbacks are a violation of state and federal law. If you or someone you know is the victim of a mileage rollback scam, contact Philadelphia car dealer fraud lawyer Michael F. Niznik for a free consultation. We work with automotive experts to diagnose mileage rollback, pre-sale accidents, and other deceptive practices. Our office represents consumers throughout the country we can be reached 24/7 at 267-589-0601 or online at www.NiznikLaw.com.
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