Ferrari deepens its hold on the auto industry’s wealthiest clients
If you spent your youth dreaming about owning the best supercar money could buy, Ferrari might have just what you’re looking for. The world’s most iconic luxury supercar maker is known for its flawless design, racing pedigree, exclusivity, and high-price points. And if you want to own a high-end model that no one else in the world can lay claim to, the brand will help you realise that dream – provided, that is, you meet its rather strict criteria.
Ferrari’s share price has appreciated by 71% year to date
Source: Yahoo Finance
Owning a unique Ferrari, bespoke to you and you alone, is about as high as you can go in the luxury car world. But it’s not easy to get there. An obvious barrier is price – a less obvious one is high demand. There is a five-year waiting list for new models, and the company says demand is rising. Despite that, Ferrari continues to maintain its vaunted brand exclusivity, making no more than three such models a year. The confidence that decision evokes, along with its justification that Ferraris are not just cars, they’re pieces of art, is at the heart of the brand’s incredible enduring appeal.
In a recent interview, Ferrari’s commercial and marketing boss, Enrico Galliera, made the following comments about the process of obtaining a unique Ferrari:
“The client has not only a unique car but a unique experience working with the designer in the process. It’s the pinnacle of Ferrari. It is offered to top clients only. We receive requests from clients, and it won’t be considered unless they are in a pool of our top 250 clients or so.” This, he says, explains why unique models “have the longest waiting list of all our product lines.”
Dominion holds Ferrari in its Global Trends Luxury Fund.
If you would you like to receive the Newsfeeds daily, please click here to sign up now!Help us make this Newsfeed better by rating this article. 1 star = Poor and 5 stars = Excellent
- Click here to print this story: Print
The views expressed in this article are those of the author at the date of publication and not necessarily those of Dominion Fund Management Limited. The content of this article is not intended as investment advice and will not be updated after publication. Images, video, quotations from literature and any such material which may be subject to copyright is reproduced in whole or in part in this article on the basis of Fair use as applied to news reporting and journalistic comment on events.