Ferrari is witnessing a surge in younger buyers, with 40% of its new clientele now under 40, a significant rise from previous years.
The number of new Ferrari buyers under the age of 40 has significantly increased over the past two years, as younger affluent customers show a growing interest in the luxury automaker despite long wait times.
According to Ferrari CEO Benedetto Vigna, this demographic now represents 40% of Ferrari’s new clientele, a notable rise from the 30% reported in 2023.
Vigna attributes this achievement to the efforts of the company’s team, emphasizing how Ferrari continues to attract a younger generation of enthusiasts. Unlike mass-market car manufacturers, Ferrari intentionally limits production, making ownership a more exclusive experience.
The current waitlist for a new Ferrari stands at approximately two years, which poses challenges not only for older customers eager to enjoy their cars but also for younger buyers eager to experience their first Ferrari before milestone birthdays. In one case, Vigna recalled a 37-year-old buyer who was anxious to receive his Ferrari before turning 40.
Ferrari’s exclusivity is reflected in its financial performance. In 2024, the company delivered only 13,663 vehicles yet generated an impressive €1.25 billion ($1.36 billion) in profits. With a market capitalization of $80 billion, Ferrari ranks as the 35th-most valuable company in Europe, despite being only the 492nd-largest in terms of revenue in 2023.
The brand’s strong customer loyalty remains a key factor in its success, as 81% of its 2024 sales were made to existing Ferrari owners, while nearly half of buyers already owned more than one Ferrari. Additionally, over 90% of Ferraris ever produced are still in use, thanks to a robust resale market that ensures these high-performance vehicles remain in circulation.
However, like other luxury brands, Ferrari recognizes the necessity of appealing to a younger clientele to sustain its dominance in the coming decades. Other automakers have approached this challenge by offering increased flexibility.
For instance, Jaguar Land Rover (JLR) launched rental and subscription services through its InMotion Studios division, allowing customers temporary access to high-end vehicles without the long-term commitment of ownership. JLR has also announced a $81 million investment to expand its customization options, enabling ultra-wealthy buyers to match their cars’ paint colors with their private jets.
Ferrari is also adapting to this trend, with personalization now accounting for 20% of its total revenue in 2024. While customization presents a lucrative opportunity, it also raises concerns about maintaining the brand’s exclusivity.
To preserve Ferrari’s strong resale value, Vigna has suggested that the company might introduce predefined color combinations, preventing potential buyers in the resale market from being discouraged by overly personalized design choices made by the original owners.
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