Ferrari is facing allegations the company authorized a widespread Ferrari odometer rollback, an illegal maneuver that could have been used to falsely inflate the value of used Ferraris.
The issue came to light last year when a former Ferrari salesperson filed a whistleblower lawsuit alleging a Palm Beach dealership was using a diagnostic tool called the DEIS Tester to reset odometers to zero miles, allowing the dealership to sell or lease vehicles for significantly more money.
The former employee alleged he was fired for age discrimination and for calling into question the practice of Ferrari odometer rollbacks.
Many people who own Ferraris drive them very little and see the vehicles as investments. A Ferrari odometer rollback of as little as a few hundred miles could change the car’s value by $1 million depending upon the model.
Most cars’ maintenance schedules are dictated in large part by the mileage. Any odometer rollback could potentially throw off the car’s maintenance schedule, and the car owner would not realize maintenance procedures are due or past due. Unperformed work could lead to a car breaking down and result in costs and damage that should have been prevented.
Ferrari Odometer Rollback Potentially Widespread
The Ferrari odometer rollbacks aallegedly weren’t the effort of just a few rogue dealerships. In order to use the DEIS Tester to reset the odometer, Ferrari has to supply the dealership with online authorization.
Due to the fact Ferrari had to approve each Ferrari odometer rollback from its headquarters, suspicions are that the problem is more widespread and not just isolated to the Palm Beach dealership.
On Feb. 27, 2018, the Daily Mail published a Technical Information Bulletin that indicated Ferrari would no longer supply codes for the Ferrari technicians to reset the odometers and that “Software update” for the DEIS tester would effectively remove that option.
When confronted by the memo that appears to acknowledge Ferrari knew and supplied assistance to the Ferrari odometer rollback, Ferrari replied that the only reason to reset an odometer was if the odometer malfunctioned in the first place.
“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,” said an email issued by Ferrari Director of Communications Krista Florin.
Ferrari’s memo indicating the ability to reset the odometers would be prohibited in the U.S. came out in April 2017, less than three months after the whistleblower lawsuit was filed.
Both federal and state consumer protection laws govern odometers. If Ferrari knew and was complicit in the Ferrari odometer rollback scheme, both Ferrari and the dealership could be held accountable.
On Feb. 1, 2018, the Italian car maker reported its adjusted earnings were up 18 percent in 2017 to $1.28 billion.
If you have purchased or leased a Ferrari and still have the car in your possession, you could be due significant compensation if your vehicle’s odometer was illegally reset.
Join a Free Ferrari Odometer Rollback Lawsuit Investigation
If you purchased or leased a used Ferrari, and still have the car, you may be owed significant compensation.
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