Ferrari wants to sell fewer cars, boost exclusivity

Ferrari chairman Luca di Montezemolo told industry journal Automotive News Europe he planned to boost the Italian sports car manufacturer’s profitability by selling more high-end, customised vehicles and constricting their availability.

“My focus this year and in the years to come is not to grow volume but to increase the exclusivity of Ferrari,” Montezemolo said.

“This protects our margins and residual values for customers.”

The chairman said encouraging personalisation through an expanded options list and an increased emphasis on the company’s Tailor Made program would boost profits and exclusivity.

“Our revenue per unit is growing thanks to a higher grade of options and to the expansion of our customisation program,” he said.

“On average, a customer adds options worth 25,000 euros ($32,300), which is 10 per cent of the retail price. Another way to personalise a Ferrari is our Tailor Made program, which adds 50,000 euros ($64,700) on average. This results in more personalised, more unique cars that keep a higher residual value over time.”

Ferrari sold a record 7318 vehicles in 2012 and started this year on a high, reporting a first-quarter trading profit up 43 per cent to 80 million euros ($103 million). Bloomberg reports that despite the strong start, Montezemolo plans to sell fewer than 7000 cars for 2013, representing a decrease of around 4.5 per cent.

Ferrari will hire 250 new workers this year, with 200 of those to build engines for Maserati under the Fiat Group partnership.