[ad_1]
Legendary Italian supercar brand, Ferrari, is revving up sales with younger buyers, according to the company’s CEO Benedetto Vigna.
Speaking to CNBC in Singapore, Vigna said: “40% of the new clients are below 40 years.”
That, he says, is a big ramp-up from the 30% figure they were hitting just 18 months ago.
Related: Ferrari Reveals Its First Four-Door Model. Just Don’t Call It This One Thing.
It’s not a small purchase for any age group — the lowest-end model, the Ferrari Roma, starts at around $250,000 and the prices quickly double and triple from there for other models. And no matter how much money you have, it’s no guarantee you can get one.
Ferrari famously holds back the number of cars it produces (last year the company only shipped 13,663 cars) and who gets the privilege of buying one involves a waitlist and a very selective process. In 2024, CNBC reported that nearly three-quarters of all Ferraris were sold to existing customers — leaving many rich people very disappointed.
The super-exclusivity was all part of founder Enzo Ferrari’s grand plan, who said that the company should always build one less car than the market wants.
Related: Ferris Bueller’s Ferrari Sold for $337,500 at an Auction, But It’s a Fake
So what’s driving the under-40-year-old crowd to Ferrari dealerships?
Fortune says it’s all about customization. Older models on the secondary market are rife with design alterations that this generation of drivers would rather put in the rearview mirror.
New owners, however, want to create the machine of their dreams — and don’t want someone else’s.
[ad_2]
