The proportion of new Ferrari buyers who are under 40 has increased as new millennials that have not been defeated by two-year-old waiting lists in the past two years.
The CEO of Ferrari, Benedetto Vigna, says that, according to a 40% of Ferrari’s new customers Interview with CNBC. This is a clear jump to the 30% of new buyers who were estimated to be under 40 years when Vigna last gave a number in 2023.
“I don’t know for other brands, but for us it is a performance that is thanks to our team,” Vigna told CNBC.
Buying a Ferrari is deliberately difficult. The luxurious automobile manufacturer sells a fraction of the car car manufacturer of the car every year.
According to Vigna, the waiting lists for a new Ferrari are currently in two years. This can cause problems for older customers who want to get the best out of their car in their Twilight years and for their new, younger customers. Vigna announced CNBC that a 37-year-old customer strived for his Ferrari before his 40th birthday.
“Don’t worry, you will get it if you are 39,” said Vigna.
The difficulty of buying a Ferrari is reflected in its underlying numbers. Ferrari sent only 13,663 cars in 2024, while he was profit of € 1.25 billion (1.36 billion US dollars).
With a market capitalization of 80 billion US dollars, Ferrari is the 35th valuable company in Europe. In contrast, it was only that 492. Largest company in Europe after income in 2023.
Most of Ferrai’s customer base has been fake for decades. In 2024, Ferrari sold about 81% of his new cars to existing Ferrari owners and 48% to buyers who currently have more than one Ferrari.
In the meantime, more than 90% of the Ferraris ever produced are on the move, with an established resale company ensuring that high -quality Ferraris stays in circulation for the first time after their first sale.
However, the car manufacturer does not differ from other luxury competitors who have to find a new harvest of younger customers to maintain their dominance in the rest of the century.
In some cases, this piece for millennial trivers has focused on flexibility. Jaguar Land Rover (JLR) set up with its venture arm inmotion studios Rent and subscription Services that give drivers temporarily access to Range Rovers and Offroad Land Rover vehicles without signing property.
JLR also announced plans to invest 65 million pounds (81 million US dollars) in two plants to expand its Color combinationsAnd allow that Superrich drivers correspond to the color of your car with your private jet.
Improving the adaptation options is the main priority of automobile manufacturers to attract new customers.
Ferrari is no different. The car manufacturer achieved a fifth of his income from personalization in 2024. While the adaptation is a lucrative source of income, it creates a dilemma for Ferrari and its exclusivity statement.
Vigna said that the car manufacturer consider about predefined His color combinations to maintain the resale value of a Ferrari car, which is deterred by buyers on the popular Ferrari resort market by the design selection of former buyers.
“Our new customers are 10% younger than all customers we have in the world. The dancing horse is so strong, ”said Vigna in 2023, when the new customers under the age of 40 were 30%.
This story was originally on Fortune.com
