That used Ferrari you purchased from the dealer might not have been such a good deal after all. That Ferrari you purchased from the dealer was a really bad deal actually. New evidence suggests that the Italian car maker openly knew of dealers rolling back miles on the Odometer of used Ferraris’ for sale, in order to increase resale value.
Based on a memo released by Ferrari, they have rolled out a software update on their instruments, that “removes” the function to rollback mileage on the ODO. In technical terms, they call this function the “NQS ECU reset cycle”
Ferrari released a memo stating,
“As a result of these two actions, the odometer ‘reset to zero’ functionality is being removed.”
This clearly shows that Ferrari knew of this practice, allowed it and then tried to cover it up amidst lawsuits.
“Resetting an odometer to zero in case of a malfunction of the odometer when the pre-repair mileage is unknown is consistent with the federal odometer law.”
According to the law, resetting an odometer on any vehicle, is illegal. This admission of Ferrari’s prior knowledge and then signing off the act will certainly have a butterfly effect on Ferrari prices and value, moving forward.