Since 1968, Hot Wheels has been producing the most well-liked scale replicas of the majority of Ferrari automobiles. Before now. According to sources, Mattel’s contract may expire next year, ending May Cheong Group’s years-long reign as the exclusive manufacturer of Die-Casts.
With the exception of a few of the older Ferrari models, the most of the Hot Wheels line’s Ferrari models are now available. However, that will change starting in 2019. Ferrari has signed an exclusive arrangement with May Cheong Group (MCG), a market leader producing a wide range of die-cast scale model automobiles and radio-controlled items, to make their die-cast commencing in January 2015. MCG also owns the brands Bburago (Italy) and Maisto (US).
If the reports are verified, we’ll need to find a new manufacturer for the ensuing 25 years.
According to Roger Ngan, the CEO of the Chinese company, who was reported by Autonetmagz, “We are delighted to clinch a contract with Ferrari, who are one of the most valuable brands in the world.” The new agreement includes a number of exclusive models that span many product lines, including the Maisto brand’s radio control, die-cast, and model kit offerings. In the meanwhile, the addition of Ferrari Kids, the Signature Series, Racing, and Race and Play will make Bburago more exclusive.
The 599XX model from the Treasure Hunt series is the final Hot Wheels product to be released on the market.
Given that Mattel owns the manufacturer of scale models and that it is undoubtedly one of the biggest on the market, this choice could prove to be a great success for Mattel. Given that the average collector owns over 1,550 cars and kids between the ages of 5 and 15 own an average of 41 cars, Mattel believes that 41 million children grew up playing with the toys. Most people think that the 1995 Treasure Hunts were the catalyst for the collecting mania.
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Has Hot Wheels produced a Ferrari in the past? This year, the exclusive licensing arrangement between Mattel and Ferrari expires.
We were shocked to discover today’s news from Hot Wheels, which states that the company’s licensing agreement with Ferrari would terminate on December 31, 2014. It was accompanied with the following assertion:
It has been mutually agreed not to extend Mattel’s present contract with them after that date.
Why does that matter? Since Hot Wheels Elite, Mattel’s 1:18 scale brand, made the statement, it is reasonable to believe that it only applies to the partnership with HW Elite. However, Mattel as a whole, not simply Hot Wheels Elite, is addressed in the statement. Could this imply that it will also affect the models in the entry-level range?
If you didn’t know, Mattel has owned the sole licensing rights to Ferrari automobiles since 1999. Other diecast manufacturers were not permitted to create a Ferrari model. What about those Kyosho 1:64 Ferraris you display here on Lamley, you might be wondering. Technically, those are not diecast models. Kyosho discovered a way to get out of the agreement by referring to their 1:64 Ferrari as “model kits,” which means that the purchaser must put it together. They arrive in this manner:
Due to Mattel’s contract ending and not being extended, Kyosho may now release Ferraris that have been assembled.
What will happen to all of these Hot Wheels Ferraris is the bigger concern. For years, Ferrari has been a defining element of the entry-level lineup and is unquestionably a collector favorite. Will Hot Wheels continue to make Ferraris after this agreement expires, but not exclusively? Or is this the final instance of Ferraris on a blue card?
This is incredibly sad if this is the end. It will tragically mark Mattel’s attempt for Hot Wheels to move in a more fantastical direction and leave a huge gap in the mainline. Quite a few of us would undoubtedly be disappointed by it.
Fortunately, this is all just conjecture. What this means is unknown. We don’t mind if it only applies to Hot Wheels Elite. If it signals the end of any Hot Wheels Ferrari, we’ll be a little sad and motivated to go get the Ferraris we’ve wanted but haven’t yet acquired. What if the price of HW Ferraris were to rise like that of the recently discarded Bugatti Veyron casting? Ouch…
We’ll wait to hear from Mattel, but we’d still like to hear your opinions. How do you feel?
Losses for Hot Wheels Contract for Ferrari diecast with a Chinese business
There’s a good probability that you have one or more diecast models lying around your home if you’re anything like this author. Furthermore, if one of those models reproduces a
HOT RODS In the late 1990s, the Maranello carmaker granted the Mattel brand an exclusive contract, however the most recent information from
Ferrari has terminated its affiliation with Hot Wheels and given the May Cheong Group the contract in its place.
You might not be familiar with May Cheong unless you are an enthusiastic diecast collector, but you probably know about its brands Maisto and Bburago. Both brands have a history of competing in the model vehicle business, but the Bburago component of the agreement is what makes it stand out.
Italy’s Bburago gained notoriety largely as a result of the scale Ferrari models it produced in the past. However, Bburago failed after the Prancing Horse marque gave Mattel the exclusive license and as a result of growing competition from the Far East. After being swooped in by May Cheong, the Italian model company and its former rival Maisto will once more be making diecast Ferraris.
The question of whether Bburago or Maisto will be able to produce models of the same caliber as Hot Wheels has with some of its higher-end offerings, as well as whether they will be able to use any of their old tooling to resume production of Ferrari scale models or start from scratch with brand-new equipment, remain to be seen. Like most collectors, this writer is eager to learn the answer. It appears that another display case needs to be purchased.
Will Ferrari ever again appear in Hot Wheels?
High-end exotic sports cars are made by the Italian automaker Ferrari. Starting in 1970, Hot Wheels produced numerous different Ferrari models. It was mutually agreed not to renew the licensing arrangement with Ferrari once it expired on December 31, 2014.
What Hot Wheels vehicle is the most well-known?
This unique set of Hot Wheels was created because Hot Wheels has always placed a strong emphasis on advertisements and marketing. Another item whose rarity was due to production difficulties at the time was the Over Chrome Camaro, which was part of the 1968 collection.
The few 68 Camaros that received this treatment were intended to be prototypes used for advertising. As the name suggests, the Over Chrome series stood out for its high gloss, chrome-like paint finish intended to make them stand out from other models. Because of this, just 20 units were made, making them quite uncommon and in high demand. Private collectors who eventually acquired one of these are sitting on a windfall, as experts estimate that a well-preserved version can sell for up to $25,000.
What model of car was the original Hot Wheels?
When you visit The Children’s Museum, you’ll discover a lot about the history of Hot Wheels(r) and get to view some incredible automobiles. However, were you aware of these remarkable facts about America’s favorite cars?
1) A 1968 dark blue custom Camaro served as the first Hot Wheels vehicle. From the Transformers movies, where Bumblebee turns into the muscle vehicle to save the day, you might recall the moniker Camaro. At The Children’s Museum, witness Bumblebee’s transformation.
2) Since then, Mattel has sold more than one billion Hot Wheels vehicles. They must be producing Hot Wheels vehicles pretty quickly since if they manufactured one every minute, it would take more than 175 years to reach a billion automobiles.
3) Over $70,000 was the highest price ever paid for a Hot Wheels vehicle. Because the Beach Bomb model wasn’t a large seller when it was produced, one affluent admirer paid that amount at auction for one. Who’s laughing now?
4) A racer covered in diamonds was created to commemorate the 40th anniversary of Hot Wheels. Speaking of extravagance Do you want to ride in a vehicle encrusted in diamonds?
5) Prior to the 2011 Indianapolis 500, Tanner Foust set a world record leap of 332 feet while operating an actual Hot Wheels car down a ramp connected to a massive 10-story “door”. Here is a video footage of the jump taken by a fan.
In this week’s WOW, don’t miss the amazing Hot Wheels track we constructed across the museum.
Race to win before these vehicles hit the road later this summer when Hot Wheels: Race to Win debuts at The Children’s Museum in May!
What is the value of the original Hot Wheels vehicle?
The first Hot Wheels automobile on the list with an estimated value of more than $10,000 is the 1968 Python With “Cheetah” Base.
The Cheetah was modeled after a 1963 automobile designed by Bill Cushenberry and produced in both American and Hong Kong factories.
It had a small block Ford engine and was originally fashioned after a 1960 Pontiac and a 1961 Corvair, but it was eventually changed into a new model called the “Tiger Shark.”
There are only few “Cheetahs,” the majority of which are red in the typical Hong Kong color scheme.
Therefore, if you do manage to discover an orange one, get it immediately because it is quite valuable!
Can you be sued by Ferrari?
Yep. Ferrari filed a lawsuit against the Purosangue Foundation and prevailed in the legal battle. When the supercar manufacturer sought to utilize the Purosangue moniker (“thoroughbred” or “full-blooded” in Italian) for its future SUV, it first approached the charity that supports health and fitness. After the negotiations fell through, the Purosangue Foundation filed a lawsuit to prevent Ferrari from registering the name as a trademark in Europe. Ferrari responded by starting legal action, asserting that the foundation hadn’t used “Purosangue” for commercial purposes enough since registering it in 2013. “Why do we have to get go of who we are? Ferrari ought to have simply done its homework.” The Purosangue Foundation’s Max Monteforte spoke to the Financial Times in the UK. “There is a ton of proof of what we’ve been doing lately.” No thanks.
Your first Ferrari can it be red?
There is no requirement that your first Ferrari be red, even if they look nice in red and are usually red. However, chances are that you’ll discover an older Ferrari in red if you’re searching in the Chicago area: Prior to the turn of the century, more than 85% of all Ferraris built were red.
Which Hot Wheels are really valuable?
Side-loading surfboards were introduced to the market by the Pink Beach Bomb in 1969. The surfboards were loaded through the back window in an earlier prototype, though.
The design was abandoned since it was found to be imbalanced. These pink models might only exist in two places.
Why do people amass Hot Wheels?
The bottom line is that amassing Hot Wheels will undoubtedly make you grin. Even if you weren’t a huge fan of cars previously, this specific activity has a way of capturing your heart and engrossing you in the act of looking for and discovering the ideal toys.
Is it forbidden to wrap a Ferrari?
If you do manage to obtain a Ferrari, you are not permitted to alter the engine in any way, modify the bodywork, apply wild paint schemes (no pink, rose, or salmon are permitted), or do anything that hides the Ferrari badge.