Ferrari CEO claims that roughly a third of new customers are under 40

Despite some of its automobiles having a three-year waiting list, Ferrari’s CEO stated that the business has no plans to increase production to keep up with demand.

Ferrari CEO Benedetto Vigna told CNBC in an exclusive interview from Pebble Beach, «We are a brand that is not seeking for volume. «We are a brand that values the customer and strives to deliver value. The client is really essential to us.

«The client is giving a value to our cars because they are unique, because they are limited, because they are exclusive,» he claimed. «We could produce more, but that is illogical. We’ll irritate our customers.

For Ferrari, striking a balance between expansion and exclusivity has never been more important. The company is under pressure from shareholders to maintain its excellent sales and volume growth because its share price has increased by 44% over the previous year and is now valued higher than Ford or General Motors.

Ferrari produced 13,221 automobiles in 2018, an increase of 18.5% from 2021. Dealers report that the wait for a new Purosangue SUV and other models is currently three years or longer as demand continues to vastly outpace supply. Due to insufficient production, many purchasers claim they can’t even get on the waiting list for a car.