Ferrari sees surge in young buyers as 40% of new clients are under 40

Ferrari's customer base is getting younger, with 40% of new buyers now under the age of 40, marking a sharp increase from 30% just 18 months ago, according to CEO Benedetto Vigna.

Speaking to CNBC at CONVERGE LIVE in Singapore, Vigna credited the surge in younger buyers to the company’s strategic efforts. "For us, it is an achievement that is thanks to our team," he told CNBC.

The luxury automaker, known for maintaining exclusivity through limited production, continues to see high demand among both existing and new customers. As of last year, nearly 75% of all Ferrari purchases were made by returning buyers. Founder Enzo Ferrari’s philosophy of delivering “one less car than the market demands” remains a guiding principle, reinforcing the brand’s prestige.

Despite rising demand, Ferrari is standing firm on its production strategy, with wait times stretching beyond two years. Vigna recounted a 78-year-old buyer who expressed frustration over the long wait, only to be told it was a motivating factor. A younger client, eager to own a Ferrari before turning 40, was reassured he would receive his car at 39.

Ferrari’s electric future

Ferrari is set to launch its first fully electric vehicle (EV) on October 9, part of an aggressive expansion that includes six new models this year.

Vigna emphasized that the automaker is committed to offering diverse options. "We will make three types of cars: the traditional combustion engine, hybrids, and an electric model," he said. While some loyal customers prefer conventional engines, he noted that others are exclusively interested in Ferrari’s EV.