Photo: Ferrari
Ferrari supercars are going to become 30% less exclusive in the next four years. That's because the Italian shop of wonders will boost annual production from 7,000 to 9,000 units by 2019. In other news, 99% percent of the people on Earth can't afford one, so they buy Ferrari sneakers instead.
The decision has been revealed through a filing with the Security and Exchange Commission. After the IPO, people who bought Ferrari stocks can look forward to more production and probably higher profits as well.
The decision to increase production should come as no surprise to anyone. Former Ferrari CEO Luca di Montezemolo was the one who capped the company's annual output, thinking that it would preserve the reputation of the Maranello marvels. He also didn't want an entry-level model, a Prancing Pony if you will.
However, both those ideas went out the door when Montezemolo left and Sergio Marchionne became the chairman of the company. The reasons behind the increased production seem to be the "growing demand in emerging markets and [the] demographic changes as the size and spending capacity of our target client grows."
Current Ferrari owners are probably not going to be too happy with the fact that more and more cars are being produced. But the days when you bought an exotic machine and kept it under a sealed bubble are long gone. Nowadays, buying a Ferrari is as much about flaunting your recently found wealth as it is about heritage and tradition.
Rival companies, such as McLaren, are not only making as many supercars as they can but they also plan several special editions and derivatives to keep things interesting. Ferrari remains the best-established name in its corner of the market and it will "maintain a reputation of exclusivity and scarcity among purchasers of our cars and deliberately monitor and maintain our production volumes and delivery wait times to promote this reputation," according to a report from CNBC.
Aside from producing 30% more cars, Ferrari's new stockholders can expect profits from new theme parks, retail stores, and branded goods. Pretty soon, "I have a Ferrari" could just mean you've bought a new phone.
The decision to increase production should come as no surprise to anyone. Former Ferrari CEO Luca di Montezemolo was the one who capped the company's annual output, thinking that it would preserve the reputation of the Maranello marvels. He also didn't want an entry-level model, a Prancing Pony if you will.
However, both those ideas went out the door when Montezemolo left and Sergio Marchionne became the chairman of the company. The reasons behind the increased production seem to be the "growing demand in emerging markets and [the] demographic changes as the size and spending capacity of our target client grows."
Current Ferrari owners are probably not going to be too happy with the fact that more and more cars are being produced. But the days when you bought an exotic machine and kept it under a sealed bubble are long gone. Nowadays, buying a Ferrari is as much about flaunting your recently found wealth as it is about heritage and tradition.
Rival companies, such as McLaren, are not only making as many supercars as they can but they also plan several special editions and derivatives to keep things interesting. Ferrari remains the best-established name in its corner of the market and it will "maintain a reputation of exclusivity and scarcity among purchasers of our cars and deliberately monitor and maintain our production volumes and delivery wait times to promote this reputation," according to a report from CNBC.
Aside from producing 30% more cars, Ferrari's new stockholders can expect profits from new theme parks, retail stores, and branded goods. Pretty soon, "I have a Ferrari" could just mean you've bought a new phone.
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