- Ferrari is attracting more first-time younger buyers, according to the company’s CEO.
- The company will continue to tightly control production, with 2+ year waiting times.
- It will cater to those looking to buy an EV with an all-new electric model, launching soon.
Ferrari may have fans from all age groups, but its core customers have traditionally been the preserve of those approaching a later stage in life—a stage often associated with crises. However, according to information from Maranello, the brand has started to attract a much younger clientele, with 40 percent of new buyers now being under 40.
That’s a jump of 10 percent from just 18 months ago and represents a dramatic shift for the car company, which prides itself on its exclusivity. But this shift isn’t just a footnote, it’s a sign that the prancing horse is galloping into a new era.
Read: Ferrari Patents Oval-Piston V12 With Weird Shared Conrods
Without going into the details of just how Ferrari managed to achieve this seismic shift in new car sales, Ferrari’s CEO Benedetto Vigna laid all credit to those around him. “I don’t know, for other brands, but for us, it is an achievement thanks to our team,” Vigna said, speaking to CNBC.
Still Exclusive, Still Ferrari
Enzo Ferrari’s mantra, to deliver one less car than the market demands, has been a hallmark of the company’s strategy — and according to Vigna, that’s not about to change. The brand is still keeping production tight, despite customers urging them to cut down on the more-than-two-year delivery window.
Vigna says that it’s part of the experience, and it doesn’t matter if it’s a 78-year-old looking to enjoy the final years of his life, or a 37-year-old keen to get the keys before his 40th birthday. The wait time will stay the same. Customers can beg all they want for quicker delivery times, but Ferrari isn’t in the business of mass production, and they aren’t about to start now.
“One client at 78-years-old had to buy a Ferrari and he said: ‘Look, I cannot wait two years.’ I said: ‘This is a motivation’,” Vigna told CNBC. “There is another guy, younger, 37, and he said: ‘When I am older, I would like to get the car before I am 40.’ I said: ‘Don’t worry, you will get it when you are 39,’” he added.
One thing that won’t stay the same is the way some Ferraris are powered. The Italian sportscar maker is gearing up to launch its first fully electric vehicle on October 9, alongside five other new models this year. Vigna is confident in the brand’s three-pronged approach: traditional combustion engines, hybrids, and fully electric Ferraris.
Of course, not everyone is on board with an EV Ferrari. Some loyalists won’t consider anything without a high-revving, naturally aspirated V12, but the company’s CEO suggests that there’s a new wave of customers who will only buy if it’s electric.
