Ferrari said that the record earnings as supercar sales success

August 24, 2023: Ferrari said that the record earnings as supercar sales success.

“The client is prioritizing our cars because they are unique, limited, and exclusive,” he stated. “We could make more, but that doesn’t make sense. We will offend our clients,” the CEO stated.

The balance between development and exclusivity has never been more critical to Ferrari. The company’s share price is raised 44% over the past year, at a valuation higher than Ford or General Motors, creating pressure from shareholders to continue its strong sales and volume growth.

Yet because the famous prancing-horse brand is built on scarcity and owners rely on limited production to keep their cars’ value, Ferrari is also expected to maintain a tight reign on display.

Last year, Ferrari produced 13,221 vehicles, up 18.5% over 2021. Demand still far exceeds supply, with dealers saying the wait for a new Purosangue SUV and other examples is now three years or more. Many buyers say they can’t get on the waiting list for a car since there is not enough production.

Founder Enzo Ferrari famously said Ferrari would produce “one less car than the market demand.” Today’s shortfall is far more significant, with some analysts stating the company could quickly sell twice as many cars as it produces. Ferrari is building a new factory for its hybrid and electric vehicles, but how much Ferrari will improve production needs to be clarified.

Vigna said that despite limited supply, the company continues to expand its reach among younger, new clients. He said that its client base has broadened for ten quarters, and 30% of its new clients are younger than 40.

“Our new clients are 10% younger than all we have in the world,” he said. “So the prancing horse is kicking strong.”

Vigna added that buying a Ferrari should always be challenging and quick since it’s the ultimate aspirational car.

“Getting a Ferrari is an experience that starts from the time you first see a Ferrari,” he said. “It’s not something you can get very easily.”