If you’re reading this post chances are you probably own at least one die-cast Ferrari model made by Hot Wheels at home.
However, this is about to change as Hemmings Daily reports that Hot Wheels’ contract to produce Ferrari Die-Cast models has recently expired (after 15 years) and it hasn’t been renewed as yet. Instead, Ferrari has made a new deal, effective January 1, 2015, with the Hong Kong based May Cheong group, which owns Maisto and Burago.
So things come full circle here because Burago, an Italian company, was thriving in in the early 80’s with 1/18 scale models, especially insofar as Ferrari models are concerned. Unfortunately for them, Mattel-owned Hot Wheels made a deal with Maranello and eventually Burago went under, for in addition to losing the rights to produce its popular Ferrari die-cast line, it couldn’t compete with lower-cost Chinese products either.
In 2005, it was acquired by the Hong Kong based May Cheong Group, which owns Maisto, and the brand was revived. Maisto models are mostly regarded as toys, while the Burago ones are targeted at collectors.
Whether Burago will use any of its old tooling to resume production of Ferrari scale models or start from scratch with all-new equipment remains to be seen, as does the matter of whether either it or Maisto will be able to produce the same quality of models as Hot Wheels has with some of its higher-end offerings.
Well, it won’t be as bad for Mattel to lose the Ferrari contract as it was for Burago in the 80’s, after all Mattel still has Barbie, which is probably the most lucrative doll ever invented.
Source: Carscoop via Hemmings Daily
