Ferrari, a brand synonymous with exclusivity and performance, is seeing a notable shift in its customer base. CEO Benedetto Vigna announced that 40% of the luxury automaker’s new buyers are now under the age of 40, signaling a growing appeal among younger generations. This is a significant increase from 18 months ago when the figure stood at 30%.
Speaking at the CONVERGE LIVE event in Singapore, Vigna attributed this milestone to the company’s dedicated team and its ability to adapt while maintaining Ferrari’s legacy. “I don’t know for other brands, but for us, it is an achievement that is thanks to our team,” he said.
Exclusivity: The Ferrari Promise
Ferrari has long been known for its exclusivity, adhering to founder Enzo Ferrari’s principle of “always delivering one less car than the market demands.” This approach has helped the brand maintain its high desirability. In fact, nearly 75% of Ferrari sales last year were made to existing customers.
Vigna emphasized that the more-than-two-year wait time for a new Ferrari is an integral part of what he described as a “very pleasant” ownership experience. Sharing anecdotes during his fireside chat, he recalled a 78-year-old buyer’s determination to get his Ferrari despite the wait and a younger customer who wanted to ensure he received his car before turning 40.
Preparing for the Electric Future
Looking ahead, Ferrari is gearing up for the unveiling of its first fully electric vehicle on October 9, 2025. This EV is one of six new models the company plans to introduce this year, demonstrating Ferrari’s commitment to innovation while honoring its heritage.
During his remarks at CONVERGE LIVE, Vigna discussed the company’s three-pronged approach to meet evolving market demands: offering traditional combustion engines, hybrids, and electric vehicles. While some loyal customers may never embrace an electric Ferrari, others have expressed a preference for EVs, reflecting the diverse expectations of Ferrari’s growing customer base.
A Younger, More Diverse Ferrari Audience
The rise in younger Ferrari buyers indicates a shift in how luxury is perceived by newer generations. This demographic, often associated with tech-savvy and sustainability-conscious lifestyles, could play a pivotal role in Ferrari’s evolution as it ventures into the electric vehicle market.
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