Who Buys 'Supercars' Ferrari? ... "40% of New Customers Are in Their 20s and 30s"

Proportion of Young New Buyers Rises by 10 Percentage Points in Two Years
81% of New Car Buyers Are Existing Ferrari Owners

It has been revealed that 40% of new buyers of the supercar Ferrari are MZ generation individuals in their 20s and 30s.

Recently, foreign media such as the US economic outlets CNBC and Fortune reported that the proportion of young buyers of Ferrari has significantly increased over the past two years. Ferrari CEO Benedetto Vigna stated at the international business conference "Converge Live" held in Singapore on the 12th and 13th that "customers under 40 years old account for 40% of new customers." This is a 10 percentage point increase from the 30% of new buyers under 40 years old as of 2023.

Ferrari KC23

CEO Vigna said, "This is an achievement made by our team." Ferrari, headquartered in Maranello, Italy, is famous for its strategy of deliberately limiting production every year to maintain scarcity. It is said that the founder, Enzo Ferrari, always said, "Supply one less car than the market demand." Due to this strategy, Ferrari buyers have to wait an average of more than two years to receive a new car.

Last year, Ferrari sold about 81% of new cars to existing Ferrari owners, among whom 48% were customers who purchased additional cars while already owning two or more Ferraris. CNBC compared this to the purchase process of Herm?s Birkin bags, explaining that Ferrari applies a brand loyalty strategy where new customers must first purchase the basic model to buy limited edition models.

Despite such strict strategies, Ferrari maintains high profitability. Ferrari's operating profit for last year, with 13,752 units delivered, increased by 16.7% year-on-year to 1.88 billion euros (approximately 2.9 trillion won). Net profit recorded 1.526 billion euros (2.4 trillion won). Regarding this, CEO Vigna said, "We expect to achieve the peak profitability target anticipated for 2026 one year ahead."

Ferrari has adopted a strategy to strengthen "customized options" to expand its young customer base. As a result, about 20% of Ferrari's sales last year reportedly came from customized options. Ferrari will soon enter the electric vehicle market. Ferrari's first electric car is scheduled to be launched on October 9.