Ferrari is among the leading global luxury brands, focused on the design, engineering, production and sale of the world’s most recognisable luxury performance sports cars.
Ferrari is arguably ‘the’ ultimate luxury goods company. In its entire history, it has produced fewer than 250,000 cars. Such exclusivity stands in sharp contrast to a volume car manufacturer. Ferrari’s cars are so much in demand that they are built to order, driven by the long heritage of uniqueness and exclusivity. There is little doubt that the company could produce many more cars than it does, but it chooses not to in order to protect the brand. While production can be expected to rise gradually, we envisage supply remaining tightly controlled, which we think demonstrates a commitment to long-term brand management and sustainable growth rather than a chase for short-term profits.
Ferrari is embracing a new chapter with its transition towards hybrid and electric technology. The company believes it can stay true to its DNA while embracing new, greener sports cars. True to the founder’s belief that “the engine is the soul of the car”, Ferrari will design and develop three distinct powertrains in its hometown manufacturing plant of Maranello, Italy. By 2030, the company is targeting an offering of 40 per cent fully electric, 40 per cent hybrid and 20 per cent combustion engine vehicles.
Current Ferrari Chairman, John Elkann, is the great-great-grandson of FIAT company founder Giovanni Agnelli – the patriarch of the Agnelli dynasty which dates back to 1899 in Turin, Italy. The FIAT group acquired a 50 per cent stake in Ferrari in 1969 and increased its stake to 90 per cent in 1988 following the death of Enzo Ferrari. It wasn’t until 2016 that Ferrari became a separate entity. Although Elkann does not bear the Agnelli family name, he demonstrates an unwavering commitment to preserving the heritage and values of the brand.
in January 2016.
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